Kurtosys secures $8m

Ellie Pullen
20 December 2013

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London-based Kurtosys, a financial technology (fintech) software company, has raised $8m in its series-C funding round from Triangle Peak Partners and existing backer True Ventures.

The capital will be used to hire additional staff for the company's research and development and support teams.

The second half of 2013 has seen an increase in investment activity around the European fintech sector, particularly in London. In September, eVenture Capital Partners invested around $1m in Azimo, a London-based provider of online money transfer services.

New venture capital firm SBT Ventures Capital launched its $100m fund focused exclusively on fintech investments in November. The firm also announced its €3m investment in Walkbase, the Finnish developer of a marketing optimisation platform for brick-and-mortar retailers.

Previous funding
Kurtosys raised its series-A funding in 2004, securing $5.15m from True Ventures. The US venture capital firm then committed a further $8.5m to the company in its series-B round in 2006.

Company
Founded in 2002, Kurtosys is headquartered in London with additional offices in New York, Cape Town and Gurgaon in India. The company employs approximately 100 staff and generates annual turnover of $8m.

The company develops fintech software for asset managers. Its product offering includes fund fact sheets for investors; fund tools such as real-time price and performance data; client reporting; and secure portals for investors and advisers.

People
Jeff Hendren is the CEO of Kurtosys. David Pesikoff is the president and co-founder of Triangle Peak Partners. Phil Black is a co-founder of True Ventures.