London’s Fundment, led by ex-BlackRock exec, raises €53M to scale its platform for financial advisers

|

|

Last update:

On Monday, London-based Fundment, a tech platform for financial advisers, announced that it has raised £45M (approximately €53M) in Series C led by Highland Europe, with participation from ETFS Capital.

Highland Europe invests in growth-stage technology companies. Highland Europe has raised over €2.75B. The firm’s collective history of investments across the US, Europe, and China includes 45+ IPOs, 150+ M&A exits, and 40 billion-dollar-plus companies.

Gajan Rajanathan, General Partner at Highland Europe, says, “Financial advisers face a growing need for modern technology to scale amidst increasing client sophistication and regulatory pressure. Fundment offers an easy-to-use, transparent, modern investment platform providing comprehensive access to a suite of investment options. There will be powerful tailwinds in this market over the coming years and Fundment is in an ideal position to capitalise.”

The UK company will use the funds to invest in product development, scaling the team, and future expansion.

Ola Abdul, founder and CEO of Fundment, says, “I’m delighted to have the backing of Highland Europe and look forward to working with the knowledgeable team there as we scale Fundment.” 

Fundment: All-in-one tech platform for financial advisers

Founded in 2018 by Ola Abdul, who previously worked as an asset manager for abrdn and BlackRock, Fundment was created to solve the technology challenges financial advisers face every day.

Outsourced legacy infrastructure often lacks integration with core applications, posing challenges for financial advisers who need to deliver tailored, regulated, and timely services.

“Financial advice is a heavily regulated space and it is difficult for fintech platforms to break through unless they truly understand how to manage and enable operations for their customers,” says Abdul.  

The company’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.

Also, the platform allows firms to utilise tax wrappers and build their APIs to customise integrations and extensibility.

This makes it easier for advisers to operate and monitor their centralised investment proposition, whether outsourced or operated in-house.

Fundment Limited is authorised and regulated by the Financial Conduct Authority (FCA) (FCA registration number 732727) and is an HM Revenue & Customs approved ISA plan manager, and the operator of the Fundment Pension which is registered with HMRC.

“For the past six years, we have been building Fundment as the all-in-one tech platform to support a financial advice firm’s every need so they can dedicate more time to delivering value to customers. We now have over 500 firms relying on Fundment, but we’re still in the early stages of our journey,” adds Fundment CEO.

The company’s marketplace platform has access to a comprehensive range of investments from companies including Legal & General, BlackRock, and HSBC, including OEICs and Unit Trusts, Investment Trusts, ETFs, domestic and international equities.

This has enabled the company to serve a growing customer base of over 500 firms, including sole traders to wealth management companies, as well as double its assets under management year-on-year and reach profitability.

As the UK government proposes to overhaul the UK public pension system, the company is also working with local authorities and their advisers to provide the public sector with the same modern architecture that the private sector uses.

Topics:

Follow us:

Vigneshwar Ravichandran

Vigneshwar has been a News Reporter at Silicon Canals since 2018. A seasoned technology journalist with almost a decade of experience, he covers the European startup ecosystem, from AI and Web3 to clean energy and health tech. Previously, he was a content producer and consumer product reviewer for leading Indian digital media, including NDTV, GizBot, and FoneArena. He graduated with a Bachelor's degree in Electronics and Instrumentation in Chennai and a Diploma in Broadcasting Journalism in New Delhi.

Partner eventsMore events

Current Month

02apr(apr 2)8:00 am04(apr 4)6:00 am0100 Europe 2025

Share to...