Fenergo, a Dublin, Ireland-based provider of Client Lifecycle Management software solutions for investment banks, capital market firms and private banks, received a $75 million investment.
Insight Venture Partners, a New York-based private equity and venture capital firm, has agreed to invest in a transaction expected to close within the next few weeks.
The company intends to use the funds to expand its R&D efforts, grow its global presence in new and existing international markets and develop a partner ecosystem, which includes establishing Fenergo University and Consulting Accreditation Program to allow partners to implement Fenergo solutions.
Led by Marc Murphy, CEO, Fenergo provides enterprise Client Lifecycle Management platform solutions for 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. Headquartered in Dublin, the company has recently expanded globally to include offices in London, New York, Boston, Sydney and Wroclaw. It serves a worldwide base of financial customers including Scotiabank, Bank of Montreal, State Street, SunTrust, Barclays and Royal Bank of Canada.