Fundment raises £45 million led by Highland Europe to scale all-in-one tech platform for financial advisers

Fundment – the leading tech platform for financial advisers – has raised £45 million in its Series C funding round led by Highland Europe. The new funding, including participation from ETFS Capital, will be used to invest in product development, scaling the team and future expansion.

Osborne Clarke advised longstanding client, Highland Europe, on the round. The corporate team was led by partner Robert Wood, associate director Robert Pook and associate Chris Flach. They were supported by financial regulation partner Noline Matemera, legal director Clare Burman and associate Sheila Bamugemereire. Tax and incentives advice was provided by partner Michael Carter and senior associate Natalie Paddock.

Founded in 2018 by experienced asset manager Ola Abdul who was previously with abrdn and BlackRock, Fundment was created to solve the technology challenges financial advisers face every day. Outsourced legacy infrastructure lacks integrations with core applications leading to ongoing difficulties for financial advisers, who are under more pressure than ever to provide bespoke, regulated and timely services to their client base.

Fundment’s proprietary technology integrates core platform services, back office tools, discretionary investment management solutions and user-friendly portals in a one-stop shop for advisers to operate and monitor their investment processes securely. The platform allows firms to utilise tax wrappers and build their own APIs to customise integrations and extensibility. This helps firms scale efficiently with automated processes, whilst adhering to complex regulations which drive significant client value.

Osborne Clarke’s Corporate team is considered a go-to practice for many companies in the fintech sector, working with clients ranging from global businesses to fast-growth start-ups and market challengers. The team advises at every stage of company development across all corporate issues, from equity and debt fundraisings to M&A, IPOs and JVs.