Today it was announced that the fund distribution blockchain FundsDLT has secured a Series A funding round from Clearstream, Credit Suisse Asset Management, the Luxembourg Stock Exchange (LuxSE) and Natixis Investment Managers. Proceeds will go towards developing the platform. While the precise funding amount was not disclosed, a single digit Euro amount was raised from each of the three new investors. LuxSE was a founding investor.
FundsDLT aims to share data for funds and fund managers in a permissioned fashion, between the asset manager, distributor and client investor. Initially, the solution was part of Fundsquare, which in turn is a subsidiary of the Luxembourg Stock Exchange. In February last year it announced a Proof of Concept with Credit Suisse Asset Management and Portuguese investment distributor Banco Best.
Just a month later, Italian fund manager AcomeA SGR announced it had tested the platform. Currently, the aim is to launch the platform in nine to twelve months.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
