Fintech Firm Enfusion Raises Funds at $1.5 Billion Valuation
(Bloomberg) -- Enfusion LLC, a startup that specializes in software for asset managers, has raised financing at a $1.5 billion valuation, the company announced Monday.
Iconiq Growth -- an affiliate of Iconiq Capital -- has invested $150 million for a minority stake in the business, according to a statement. Existing investors include FTV Capital and Hillhouse Capital.
The Chicago-based company says its software provides real-time and data-driven intelligence in a cloud-based offering. It's aimed at keeping tabs on order, execution and portfolio management.
“We're trying to simplify the overall workflows that an investment manager has to undergo from front to back,” Chief Executive Officer Thomas Kim said in an interview.
The company's more than 550 clients include hedge funds, family offices and institutional asset managers. Enfusion says it is profitable and seeing its strongest growth in the Asia-Pacific region.
Enfusion, originally founded in 1997 as a hedge fund technology advisory firm, launched its software system in 2006.
Its current valuation of $1.5 billion is more than double what it was last valued at in 2019.
The company could go public at some point, Kim said, without specifying timing.
“There are a lot of different options available to us,” he said.
©2021 Bloomberg L.P.
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
