Finbourne's products include the LUSID Operational data store, investment and accounting books of record, a portfolio management platform, and a data virtualization tool. The company is also helping manage how companies handle their data for training models, an area where it’s likely to get more involved. Despite facing competition from numerous asset managers and service providers, Finbourne is attracting clients like Fidelity International, the London Stock Exchange Group, and the Pension Insurance Corporation.
Key takeaways:
- London-based startup Finbourne has raised £55 million ($70 million) in funding to expand its platform that helps financial companies organize and use more of their data in AI and other models.
- The funding round was co-led by Highland Europe and AVP, the venture arm of insurance giant AXA, valuing the company at just over £280 million ($356 million) post-money.
- Finbourne's products include the LUSID Operational data store, investment and accounting books of record, a portfolio management platform, and a data virtualization tool.
- Despite facing competition from numerous asset management rivals, Finbourne is being used by companies like Fidelity International, the London Stock Exchange Group, Baillie Gifford, Northern Trust and the Pension Insurance Corporation (PIC).