Fenergo, a Dublin, Ireland-based software company that specializes in enabling financial institutions to meet regulatory compliance and data requirements in onboarding new clients, raised €4m in equity funding.
The investment is being made by The Ulster Bank Diageo Venture Fund, managed by Investec Ventures, with co-investment from existing shareholders. Following the investment, John Dolan of Investec Ventures will join the Board of Fenergo.
The company intends to use the funds to further expand its global presence across North America, Europe and Asia Pacific, and accelerate the development of its enterprise platform.
Led by Marc Murphy, co-founder and CEO, Fenergo is a provider of enterprise platform solutions designed to help financial institutions to manage the end-to-end regulatory onboarding process – from onboarding, to management of client and counterparty data and regulatory compliance with existing and emerging regulations.
Existing clients include RBS, Lloyds Banking Group, Investec and Rabobank.
FinSMEs
08/10/2013