fundcraft has increased its Series A funding to €11 million, adding €6 million to the €5 million raised earlier in May 2024. This recent round was led by 3VC and MiddleGame Ventures, with the previous investment from Aperture Capital and SIX Fintech Ventures. The Luxembourg-based company, specializing in digital fund operations, aims to use the funds for product development, geographic expansion, and talent acquisition.
Since May, fundcraft has grown significantly, with a 60% increase in the number of managed funds, totaling over €8.1 billion in commitments. Fundcraft's CEO Julien De Mayer highlights the company’s mission to “digitise and transform fund operations for alternative asset managers” and describes the additional investment as a strong endorsement of fundcraft's “unique opportunity to accelerate our expansion.” Eva Arh, Partner at 3VC, praises fundcraft’s impact in an industry often reliant on “manual tasks, back-and-forth emails, and Excel sheets,” emphasizing fundcraft’s role as a category-defining product. Pascal Bouvier of MiddleGame Ventures notes fundcraft’s capacity to improve “efficiency and transparency” within fund operations.
With the fresh investment, fundcraft plans to enhance its platform’s automation and transparency, expand across European markets beyond Luxembourg, and attract top talent, including the recent hire of Craig Perrin as Chief Revenue Officer, who will focus on scaling relationships with institutional clients across Europe and beyond.
- Fundcraft is tailoring its platform to address the complex requirements of mid-market private equity (PE) funds, differentiating its services from competitors by emphasizing integration and automation.
- Fundcraft’s recent hires and investor backing reflect its aggressive approach to scaling, particularly through strengthening relationships with institutional clients in Europe, the UK, and other international markets.
- Fundcraft’s growth highlights a broader trend where fund managers are increasingly adopting digital solutions to replace traditional, manual fund administration processes, indicating a rising demand for efficient digital platforms in the financial sector.
