Cloud-based investment data management platform Finbourne has raised £55 million.

The firm says investment will fund the next phase in its commercial development, including expanding its sales, product and marketing capabilities in the US, UK, Ireland, Singapore and Australia.

Established in 2016, Finbourne’s objective is to simplify and supersede the way investment data is traditionally stored, accessed and analysed.

Its SaaS-based Lucid platform delivers front-to-back functionality across every asset class for portfolio management, fund accounting, order management and compliance.

In the last 12 months, Finbourne has announced a string of new client wins across the global investment management, banking and capital markets sectors, including Northern Trust, Omba Advisory and the Pension Insurance Corporation (PIC).