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Fundcraft, a leading provider of digital infrastructure for asset management, announces that it has a €5 million Series A funding round, led by Aperture Capital, with participation from SIX Fintech Ventures, the CVC arm of SIX Group and early supporters. The funds will be used for product development and to fuel Fundcraft's international expansion.
Fund administration is a large, growing market that is ripe for disruption. Its growth owes to the increasing trend for fund managers to outsource fund administration to specialist asset servicing companies. In the alternative asset management market, fund administration represents a USD50bn annual market. Despite its size, fund administration continues to operate in a highly inefficient manner, with heavy reliance on people...
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