FinTech Firm Asset Class Raises $11.6 Million Funding Round

A financial technology company that aims to help “democratize private capital investing” has just gained an investment of its own. This week, Asset Class announced that it had raised $11.6 million in funding. The Series A was led by Canapi Ventures, which is a FinTech-focused VC. New and returning investors including Live Oak Ventures, Plexus Capital, and Total Technology Ventures also participated. This round follows a $3 million seed round last summer, giving the company a total of $14.6 million in funding to date.

Asset Class is a FinTech that offers a variety of investment management software solutions for the likes of private equity firms, VCs, commercial lenders, and financial advisors. According to their site, the company currently helps service more than 300 funds, with more than $33 billion in assets under management. While the company is based in Dublin, it also has offices in New York, Atlanta, and London.

With the latest round of funds, Asset Class says it plans to hire additional employees. In particular, the firm says it will focus on talent in the software and business development fields.

Commenting on the funding round and Asset Class’s success so far, the company’s founder and CEO Ferdinand Roberts said in a statement, “As we’ve grown, we like to say that the venture capital, private equity, and commercial lending firms we work with come for the technology we provide and stay for the network we offer.”

Roberts added, “Our client-first approach has led us to achieve incredible growth, and this new round of funding will only propel us further on our mission to offer a completely integrated, end-to-end investment management platform in the alternatives space.”

Meanwhile, Canapi Ventures general partner Neil Underwood said of his firm’s investment in the company, “We have been extremely impressed with the growth of Asset Class over the past year. The company’s unrivaled ability to bring secondary market liquidity to the private capital markets and provide fund managers with better investor oversight has positioned the company at the forefront of the industry, opening up many exciting opportunities for the future. We are excited to help them strengthen their position to become the preeminent operating platform for investment management as the alternatives space continues to accelerate.”

Overall, Asset Class is another example of a “behind the scenes” FinTech that has the potential to be hugely successful without becoming a household name. Of course, while the firm’s $11.6 million Series A is impressive, the company is still early in its life at just two years old. Regardless, their impact so far makes them one to watch.

Leave a Reply

Your email address will not be published.


Jonathan Dyer

I'm a small town guy living in Los Angeles looking to make solid financial decisions. I write for a number of finance websites, including HuffingtonPost and Business2Community. I founded in 2015 to focus on personal finance and the emerging FinTech markets.

Other Articles by Jonathan Dyer

July Report: U.S. Economy Regains Jobs Lost During Pandemic

In March of 2020, following a month that saw unemployment fall to 3.5%, the United States economy shed 459,000 jobs. This was followed up by a massive 20.5 million job loss in April, bringing unemployment to 14.7%. Now, 27 months later, the U.S. has returned to that February 2020 high. According to the latest Bureau of Labor Statistics report, the economy added 528,000 jobs in July. This was more than...

American Express Global Pay for Small Businesses Launches

A new offering from American Express is aiming to make international business-to-business payments easier for owners. This week, the company announced the launch of Global Pay. Using this digital platform, U.S. small businesses can make secure B2B payments to suppliers in more than 40 countries. With the mobile-friendly service, businesses will be able to see exchange rates at the time that they create payments and will be able to view...

Truebill App Rebrands to Rocket Money

In recent years, one of the most talked about personal finance apps has been Truebill. Founded in 2015, the platform has since helped users save a reported $250 million — including $150 million this year. Now, Truebill is changing its name and will continue on as Rocket Money. This name change comes following Rocket Companies' acuqision of Truebill in December 2021. The purchase cost Rocket $1.275 billion in cash. When the...