Luxembourg Fundtech Platform Fundvis Raises €470k in 1st Funding Round

On Tuesday 7 May 2024, Fundvis, the Luxembourgish SaaS platform for the digitalisation and automation of fund workflows, announced it has successfully completed its first funding round, raising €470,000 to support its mission of enhancing cooperation, communication and coordination in the fund industry.

The company, led by CEO Leonhard Kossmann, has secured investment from a group of three angel investors and three family offices. Among these investors, four have been appointed to the new advisory board of Fundvis, including industry experts Bob Kneip (Founder of Kneip), Martin Vogel (Global Head of Strategy at Waystone), Alessia Lorenti (Independent Director) and Olivier Renault (MD of Kantara Advisory). In addition to the funds raised from private investors, Fundvis has also secured a grant from the Fit4Start programme, which it successfully completed at the end of last year.

Fundvis, a startup member of the Luxembourg House of Financial Technology (LHoFT), noted that it is committed to simplifying fund management processes for AIFMs and other players in the fund sector. The company's mission is to create a more compliant and efficient financial ecosystem through the development of software that transforms complex processes into simple workflows while having oversight across all operations and counterparties in real time.

This funding round is expected to enable the company to accelerate its growth initiatives, expand its market reach to better serve the financial industry and further enhance its innovative offering. Fundvis aims to "make a big, positive change" in the finance world, particularly for small and medium sized players of the fund Industry.

Fundvis said it plans to use the investment to develop new tools and innovative solutions, including a module for the latest Digital Operational Resilience Act (DORA), a European Union regulatory framework that sets uniform requirements to manage ICT risks and improve the security of network and information systems across the EU.

"We are very excited and proud to announce the successful completion of our first funding round, welcoming legends of the fund and finance market in the Advisory Board and Cap-table of Fundvis. Their investments underscore the confidence they have in our potential and solution, which will profit tremendously from the experience and counsel of the new shareholders," said Leonhard Kossmann.

Alessia Lorenti, Investor, Board member and advisor since the start of Fundvis, shared her view on the startup and its vision: "I have seen Fundvis evolve since its inception in 2022 when I mentored the Fundvis team in the Catapult acceleration programme. The product and service offering has been developed and successfully deployed by certain industry players. I strongly believe Fundvis is a cutting-edge solution to allow the alternative investment funds industry players to enhance their operational and cost efficiency, while reducing risks, through automation and digitalisation."

Martin Vogel, one of the investors and new member of Fundvis' advisory board, added: "I am very excited to be an investor in Fundvis. The continued cost pressure in the asset management industry and the ongoing shortage of qualified professionals force all service providers to further automate and facilitate internal processes and procedures in order to lower cost and strengthen service quality. Fundvis is a perfect partner to achieve these goals."