The money infusion is intended to finance Finbourne's "next phase" of growth in the business sector. According to the UK fintech, this will entail expanding its capacities for sales, marketing, and product development in Australia, the US, Singapore, Ireland, and the UK.

The additional monies add to the £30 million financing facility that Finbourne obtained from Kreos Capital the previous year. This comes after the company secured £15 million in 2021 during its Series A fundraising round, which was spearheaded by Fidelity International Strategic Ventures.

Finbourne was established in 2016 and provides a suite of investment administration solutions in addition to a cloud-native Software-as-a-Service (SaaS) data management platform for the wealth management industry.

The SaaS-based LUSID platform, which the business claims "delivers front-to-back functionality" spanning order management, portfolio management, compliance, fund accounting, and more, is its main offering.

Recently, Finbourne has disclosed the acquisition of new clients in a number of different industries. These include Seilern Investment Management, based in the UK, and Northern Trust, a wealth management company with its headquarters in Chicago.