London-based Fundpath, which has developed software to connect fund buyers with asset management firms, has secured a £4m investment from Fuel Ventures.
Fundpath’s platform acts as a database containing the preferences of fund buyers and filters out asset management firms that do not meet their criteria.
“Our mission is to bridge the information disconnect between the buyers and sellers of funds,” said Jamie Hinchliffe, CEO and co-founder of Fundpath.
“Over the last 18 months, we’ve been working even closer with the wealth and asset management industry to do just that.”
The software aims to save fund buyers’ time as they no longer have to contact individual asset management firms and not receive irrelevant offers.
Founded in 2021, Fundpath will use Fuel Ventures’ £4m “late seed capital” to continue developing its software and “invest in new technologies”.
Mark Pearson, general partner at Fuel Ventures, said: “With Fundpath, we see a huge opportunity to positively impact an important industry, by solving a genuine problem through technology and data.”
“The outstanding feedback we have received from wealth managers and asset managers about what Fundpath is creating, and the scale of the progress that has been made in such a short period, was enough to convince us that we should be part of their journey.”