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Insight Venture Partners gives Fenergo $75m vote of confidence

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14 July 2015

Financial technology firm Fenergo has secured a $75 million from Insight Venture Partners, a New York-based private equity and venture capital firm. The transaction is expected to close within the next few weeks.

The new capital will be used to continue development of the company’s client lifecycle management and regulatory onboarding platform, and develop a partner programme.

Earlier this year Fenergo made its debut on the Chartis RiskTech100, list of the top 100 risk technology providers in the world.

Headquartered in Dublin, Fenergo has offices in London, New York, Boston, Sydney and Wroclaw serving customers including Scotiabank, Bank of Montreal, State Street, SunTrust, Barclays and Royal Bank of Canada.

“Having undergone significant growth over the last few years, Fenergo has proven that it can deliver the solutions that financial institutions need and want to solve challenges around regulatory onboarding and client lifecycle management,” said Marc Murphy, CEO, Fenergo.

“Based on this demand, the market is encouraging us to find a strategic partner that will enable us to become the industry standard for client lifecycle management solutions. We believe we have found that partner in Insight Venture Partners and we look forward to working closely with them as we scale our business into the global industry standard.”

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