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Next Gate Tech secures EUR 5 million in new fund raise

Next Gate Tech is delighted to announce it has completed a new EUR 5 million fund raising round, led by industry-renowned fintech investor NewAlpha Asset Management, alongside Volta Ventures and Seed X with the continued support of all existing stakeholders, including Expon Capital, MiddleGame Ventures and SeederFund.

The Luxembourg-based fintech provides smart automation solutions for the asset management industry and has seen impressive growth since it was founded in 2019. The Company employs 30 people today with their Saas platform used by a number of the major players in the asset management industry with funds domiciled in the USA, Luxembourg, Ireland, France, Australia, Singapore and Canada. In addition to its asset management clients, Next Gate Tech has also started to provide services to fund administrators and depositary banks, such as BNP Paribas Securities Services. This new round of financing will support the Company’s ongoing investment in technology research & development, both to strengthen its existing data management and oversight analytics platform, as well as moving into more advanced predictive analytics. This investment will also allow Next Gate Tech to recruit new profiles in Luxembourg, while also supporting the Company’s expansion with a new office that it will be opening in London in the coming months.

Davide Martucci, CEO, Next Gate Tech: “We are happy to count on some of the most well-known venture capital investors in the European fintech industry. This cohort of SaaS B2B specialized institutional investors will help us to accelerate our growth to reach our goal of becoming a European leader in data management and data analytics for fund industry operations. Thanks to this latest round, we will continue to invest in hiring the best talent to expand our team and offer scalable, cutting edge technology to our clients.”

Aurélie Nicolas, Investment Director, NewAlpha Asset Management: “We have been impressed by Next Gate Tech’s cutting edge data management and analytics software. Data management and oversight are significant pain points in the fund industry, especially as regulation becomes more demanding around risk management, reporting and NAV oversight. Next Gate Tech has already leveraged data management and smart automation to bring much-needed efficiency to fund industry players. We are excited to support the team as it enters the next stage of its development: capturing the international market.”

About Next Gate Tech: Next Gate Tech uses the latest cloud technology to transform our clients’ fragmented and unharmonized data into one consistent, consolidated “golden” source, enabling them to streamline their day-to-day processes. Through use of our powerful analytics tools, we provide automated NAV Oversight, Risk Oversight, Investment Compliance Oversight and ESG Oversight. As a SaaS solution, we help drive efficiency and reduce risk, by eliminating the need for multiple solutions and a reliance on legacy databases. We enable firms to manage their governance and controls independently and consistently, while reducing overall technology and business costs.

About NewAlpha Asset Management: NewAlpha Asset Management has been an independent pioneer investing in entrepreneurs in the financial industry since 2009. The company offers its institutional clients a wide range of products and services in absolute return and private equity strategies. In 2015, it launched the 1st French Venture Capital fund dedicated to European FinTechs and now manages a
portfolio made up of 20 FinTechs, one of the largest in France. As a subsidiary of La Française (Crédit Mutuel Nord Europe Group), NewAlpha Asset Management is authorised by the Autorité des Marchés Financiers (AMF).