The fintech’s automation solutions for the asset management industry have garnered the support of NewAlpha Asset Management, alongside Volta Ventures, Seed X, Seeder Fund, Expon Capital and Middlegame Ventures. The financing will support the company’s R&D in analytics and help them in their recruitment and expansion plans.
Founded in 2019, the fintech has just completed a new €5 Million fundraising round led by industry-renowned fintech investor NewAlpha Asset Management. The success of its smart automation solution has also caught the eyes of Volta Ventures and Seed X, the renewed confidence of Expon Capital, Middlegame Venture and Seeder Fund and guaranteed the continued support of all its existing stakeholders.
“We are happy to count on some of the most well-known venture capital investors in the European fintech industry. This cohort of SaaS B2B specialized institutional investors will help us to accelerate our growth to reach our goal of becoming a European leader in data management and data analytics for fund industry operations,” comments Davide Martucci, CEO at Next Gate Tech.
Using the latest cloud technology to transform their clients’ fragmented and unharmonized data has proven an effective solution for a wide range of asset management tasks, including NAV Oversight, Risk Oversight, and ESG Oversight.
“We have been impressed by Next Gate Tech’s cutting edge data management and analytics software. Data management and oversight are significant pain points in the fund industry, especially as regulation becomes more demanding around risk management, reporting and NAV oversight, ” adds Aurélie Nicolas, Investment Director, NewAlpha Asset Management.
Next to its asset management work, the fintech has also recently started to provide services to fund administrators and depositary banks, such as BNP Paribas Securities Services.
The funds raised will go towards continued investments in its existing platform as well as R&D into more advanced predictive analytics. Furthermore, the investments will supplement the recruitment of new profiles in Luxembourg and support the opening of the fintech’s new London office.
