FLX Distribution, a Basking Ridge, NJ-based professional network technology platform bringing together asset management firms and independent distribution professionals, closed a $2.5m seed funding round.
The round was led by RiverNorth Capital Management, with participation from six strategic, private investors.
The company intends to use the funds for general corporate purposes, technology development, product launches, and related efforts.
Launched in 2019 by Brian Moran, Chief Executive Officer, FLX Distribution is a financial technology company focused on asset management distribution. Through an innovative professional network technology, its member-structured marketplace provides access, education and data to enable comprehensive financial services distribution solutions.
The company also announced it has named two first members to its Board of Directors:
- Paul Hatch, is UBS Group Managing Director, Northeast Divisional Director in Wealth Management.
- Patrick Galley, CFA, is Chief Executive Officer and Chief Investment Officer at RiverNorth Capital Management, LLC, an investment management firm founded in 2000.
FLX also said that it added the newest member to its Advisory Board:
- Fran Cashman is principal and founder of Mayfair Davie Consulting enabling asset and wealth management firms to address business and distribution strategy challenges.