Wealth management technology provider FNZ has received an undisclosed infusion from Singaporean investment firm Temasek.
The deal is said to bolster FNZ’s presence in Asia.
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By GlobalDataCommenting on the latest infusion, FNZ founder and CEO Adrian Durham said: “Temasek’s investment in FNZ adds a further high profile investor and will enhance our reach into Asian markets.
“We look forward to exploring opportunities to work together to broaden our customer base in Asia and beyond.”
FNZ other backers include Caisse de depot et placement du Quebec (CDPQ) and Generation Investment Management.
The pair bought a controlling stake in the firm in October 2018, offering the firm a valuation of around £1.7bn ($2.2bn).
FNZ has tie-ups with over 60 financial services providers including banks, insurers and asset managers.
It has operations in Australia, China, Czech Republic, Germany, New Zealand, Singapore, the Nordics as well as the UK, with staff strength of more than 2,500.
At present, the firm has assets under administration of more than £400bn held by nearly eight million customers.
These customers are of various financial services firms such as Aviva, Barclays, Generali, HSBC, Lloyds, NAB, UBS, Quilter, Standard Life Aberdeen, and Vanguard.
Last year, FNZ snapped up London-based wealth management software provider JHC Systems and German investment platform ebase.
It followed up with the acquisition of Australian wealth technology provider GBST.
