Scottish Equity Partners invests in Regtech company FundApps
Scottish Equity Partners (SEP) has made a growth equity investment in FundApps, which is one of the leading Regulatory Technology (RegTech) companies in the world.
Fund managers are usually heavily burdened by regulatory requirements like shareholding disclosure, position limits, etc. But over the years, FundApps has built a platform that combines cloud technology, regulatory expertise, market data and their community to simplify this exercise to a great extent.
FundApps currently has over 100 clients which range from large investors, hedge funds to very large wealth management firms and they proudly say that their services monitor 10% of the total global assets under management, which is a huge achievement and speaks volumes of their capacity and robustness.
“We are delighted to have technology specialist SEP on board.” Said Andrew Patrick White, founder and CEO of FundApps. “Having bootstrapped our way since 2010, FundApps has experienced exceptional growth in recent years, but we have only just scratched the surface of the regulatory challenge. It is clear that in SEP, we have found a long-term partner who not only understands the scale of the problem faced by the global investment industry but one who is excited to work with us to introduce transformative services to an industry crying out for further innovation”.
SEP is one of Europe’s largest equity firms that focuses its investments on technology companies. They believe that their investment into FundApps would be a good fit and would help to drive technology innovation within the company and also help in its growth plans across the world.
Angus Conroy, Director at SEP, added, “FundApps offers an outstanding software solution to asset managers and banks, enabling automation of increasingly complex regulatory reporting requirements. The business has an excellent reputation amongst its clients for product innovation, proactive support, and cutting-edge underlying technology. New clients joining the platform benefit from access to a growing community of compliance professionals using the service. We see substantial growth potential and are delighted to be partnering with the FundApps team at this exciting time in the company’s development.”
The regulations across the world are becoming increasingly complex and as the investment world opens up to more and more instruments and markets, it is only natural for everyone to expect that the complexity would increase even more in the coming years.
In such situations, it is important, especially for large wealth management firms to look towards technology and companies like FundApps to ease their burden so that they can focus more of their efforts on wealth management rather than on regulation which can ably be managed using technology that FundApps provides. With this in mind, it is expected that the business for the company is likely to grow in the coming years.
