Asset Class, a financial technology (fintech) firm based in Dublin with offices in New York and London, announced today the completion of a $11.6 million Series A funding round led by fintech-focused Venture Capital firm Canapi Ventures, with participation from new and existing investors including Live Oak Ventures, Plexus Capital, and Total Technology Ventures.
Asset Class, founded in 2020, offers a variety of unique, personalized investment management software solutions to clients in a variety of financial industries, with an emphasis on private equity, venture capital, financial advising, and commercial lending.
Asset Class has experienced impressive growth since announcing a seed round of $3 million from Angel Oak Ventures last year, as private equity and venture capital fund managers, as well as commercial loan lenders, have turned to the firm’s bespoke solutions to help raise capital easily and efficiently, as well as manage the entire end-to-end investor life cycle. Asset Class presently serves over 300 funds with a combined $33 billion in assets under management and a network of over 15,000 authorized investors.
The expansion financing will allow Asset Class to focus on increasing its staff numbers, particularly in software and business development.
Live Oak Ventures, the investment arm of Live Oak Bancshares, Inc., participated in the round to support solutions for its venture capital and private equity customer base. “We believe there are exciting applications of embedded banking in partnership with Asset Class and as an investment advisor to Canapi Ventures, Live Oak sees firsthand the need for modern, integrated solutions for alternative investment funds,” said Stephanie Mann, Chief Strategy Officer at Live Oak.
Asset Class is a fintech company with offices in Dublin, New York, Atlanta and London. The company delivers bespoke and packaged software to the financial services sector in Europe and the U.S. and is focused on the asset management, commercial lending and wealth management sectors globally.
