Next-gen fund administration platform ScalingFunds receives new investment to expedite growth plans
“We are very proud fund managers and investors trust ScalingFunds to provide an easier way to the rather complicated world of alternative investment funds. AIFs have seen a steep growth rate in the last decade growing from a €2tn to a €6tn market in Europe alone, making it necessary to upgrade the paper-based administration to keep up with the growing transaction volume”, says Jakob Drzazga, CEO of ScalingFunds.
ScalingFunds’ comprehensive turnkey solution leverages Brickblock’s blockchain technology to enable a fully digital shareholder registry. Traditionally, shareholder registries are calculated manually and stored on paper or local computers at a transfer agent’s office or logged on an expensive central securities depository. It also provides asset managers with integrated legal structures in Luxembourg, Ireland, and multiple other jurisdictions throughout the European Union.
“We see growing interest in our software from fund managers and transfer agents who are looking to benefit from direct-to-customer distributions, real-time secondary market transactions, and streamlined fund administration capabilities,” says Jakob Drzazga. “With the new investment, we will be able to further build out our platform catering to the growing needs of transfer agents, private banks, and fund managers.”