The round is led by global investor FinTech Collective, and existing investors including Cherry Ventures and Motive Ventures are doubling down. Angel investors including founders and executives of Klarna, Moonfare, and Kinnevik also participated.
Bunch brings automated tech tools to modernise the infrastructure and workflows for private market investors, who currently have to grapple with sloppy spreadsheets, complex workflows, and paper-based processes.
Founded in late 2021, the startup has now raised a total of $22 million to date, and claims that private funds currently manage some €2 billion worth of assets through its platform.
"Alternative Assets are the fastest-growing asset class, yet their operational processes remain stuck in the past," says Levent Altunel, co-founder of bunch. "Our Series A funding will accelerate bunch’s mission to bring this trillion-dollar industry into the 21st century, driving a much-needed digital transformation.".
He says the new funding will enable bunch to accelerate its growth by expanding into new asset classes and geographies, with a particular focus on the UK market and private equity clients.