Depowise Expands into UK and Ireland

Depowise, an Estonian-founded oversight and process automation startup for financial services firms, is expanding into the United Kingdom and Ireland.

The company aims to “increase its current 5% market share tenfold in the domiciled funds market of Luxembourg, Ireland, and the UK, valued at more than €16.5 trillion.”

Over the next five years, Depowise plans to “achieve a volume of assets on the platform of €8 trillion and become a market leader.”

Leading this significant expansion “is Leonid Belov, the newly appointed Managing Director for the UK and Ireland.”

Belov has a wealth of experience “across front-to-back and cross-asset-class solutions, having worked in financial institutions such as BlackRock, State Street, MSCI, and Bloomberg.”

Artur Reiter, Co-Founder and Co-CEO of Depowise said:

“Having known Leo since our Bloomberg days, I have always admired his drive and insight. During one of our chats, I brought up my ambition to develop Depowise, and this resonated strongly with Leo, who thought we could disrupt the status quo and bring about meaningful change. We are beyond delighted to welcome Leonid Belov to our team. His exceptional talent in growth engineering, coupled with his strategic approach, sales expertise, and extensive financial technology knowledge, will undoubtedly secure our success in these new markets.”

Mr Belov shares:

“Depowise has incredible growth potential that I couldn’t resist being a part of. The dedication and achievements of the team in just three years – developing a market-leading end-to-end tool for the depositary market – are truly impressive.”

The global asset servicing and management industries are in dire need of technological advancement.

Belov adds:

“Despite the significant pace of automation, a meaningful proportion of the industry still relies on manual processes for critical tasks. We see this as a big market opportunity for Depowise – our modern technology can unlock scale and achieve viable efficiency for our customers/”

Depowise offers a comprehensive automation solution “that streamlines compliance, oversight, safekeeping, reporting, and record-keeping tasks, significantly reducing manual efforts and inherent inefficiencies.”

Founded in 2021, Depowise has settled in “the financial world, servicing 7% of the globally systemically important banks (G-SIBs).”

Depowise’s next-generation modular platform, initially “developed for depositaries, is equipped to serve the entire asset servicing and AIFM sector, including large, medium, and small management companies, fund administrators, and depositaries.”

Depowise automation enhances “oversight, investment compliance, and due diligence capabilities across all asset classes.”

The platform consolidates asset, fund, and investor data and documents across the organization, “utilizing flexible workflow management tools to unify stakeholders and processes.”

Sponsored Links by DQ Promote



Send this to a friend