FundApps is described as a “compliance-as-a-service” (CaaS) business, that improves the way investment managers deal with the regulatory burden by combining cloud technology, regulatory expertise, market data and the FundApps Community.
FundApps reports over 100 clients, ranging from hedge funds, asset managers, and sell-side financial firms. FundApps claims that its services monitor over 10% of global assets under management.
Andrew Patrick White, founder and CEO of FundApps, said they were delighted to have SEP on board:
“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.”
Angus Conroy, Director at SEP, said that 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.”
Scottish Equity Partners is a VC that provides investment alongside expertise and access to an international network.
FundApps, launched in 2010, reports that it monitors over USD $13 trillion in client assets.