Next Gate Tech, a leading provider of innovative technologies for the financial services industry, on Thursday announced a $8.81 million investment in a new funding round led by DB1 Ventures, the Corporate Venture Capital unit of Deutsche Börse Group, with the continued support of existing investors: NewAlpha Asset Management, Volta Ventures, Expon Capital, and Seed X.
The investment follows the German exchange group’s acquisition last year of Luxembourg-based fund data manager Kneip, which already has a complementary commercial relationship with Next Gate Tech.
Based in Luxembourg and London, Next Gate Tech’s platform ingests datasets from multiple sources to create a harmonized golden copy and generates various calculations to oversee delegates, analyse investments behaviours, compare performance, and generate risk-based metrics.
This investment will accelerate the development of Next Gate Tech’s innovative solutions that help financial institutions streamline their processes, improve efficiency, and reduce costs. Next Gate Tech’s data management, insights and analytics technology is used by various fund industry players across the value chain, such as banks, asset managers, and other financial services providers, to optimize their operations, comply with regulatory requirements and enhance their customer experience.
Davide Martucci, CEO of Next Gate Tech, said that they were excited to have Deutsche Börse, an innovative international exchange organization, as our lead investor, and we are grateful for the continued support of our existing investors.
“The new funding will enable Next Gate Tech to enhance its products and services further and expand its reach to new markets,” Martucci said.
Christoph Osburg from DB1 Ventures said that the Next Gate Tech’s offerings were aligned with their investment thesis, and they were delighted to have a commercial partnership agreement already in place with our subsidiary Kneip.
“As a strategic investor, our aim is to foster long-term partnerships, and we see great potential for collaboration between Next Gate Tech and Deutsche Börse subsidiaries such as Kneip,” Osburg said.
Osburg further said that they were impressed by Next Gate Tech’s innovative solutions and their proven history in implementing innovative technology with ease while providing a first-class customer experience.
Next Gate Tech and Kneip
Kneip is the data franchise of Deutsche Börse Group´s Fund Service. The partnership between Kneip and Next Gate Tech enables financial institutions to streamline their fund distribution and regulatory reporting processes.
Enrique Sacau, CEO of Kneip, who is joining the Board of Next Gate Tech following the investment of Deutsche Börse Group said that this investment by Kneip’s parent company Deutsche Börse Group cements their partnership with Next Gate Tech.
“The logic of it is to add more value to our clients on the back of delivering both exceptionally high-quality data and bigger coverage of their value chain. This makes us unique,” Sacau added.
About Next Gate Tech
Next Gate Tech is a leading provider of innovative technologies for the financial services industry. The company’s solutions help financial institutions to streamline their processes, improve efficiency, and reduce costs.
The company leverages the latest technologies to provide a smart data management, insights, and analytics Saas platform which ingests datasets from multiple sources to create a harmonized golden copy and generates various calculations to oversee delegates, analyse investments behaviours, compare performance, and generate risk-based metrics. The company has offices in Luxembourg and in London.
About Deutsche Börse:
As an international exchange organization and innovative market infrastructure provider, Deutsche Börse Group ensures capital markets that are transparent, dependable, and stable.
With its wide range of products, services and technologies, the Group organizes safe and efficient markets for sustainable economies. Its business areas cover the entire financial market transaction process chain.
This includes the provision of indices, data, and analytical solutions as well as admission, trading and clearing. Additionally, it comprises services for funds, the settlement and custody of financial instruments as well as the management of collateral and liquidity. As a technology company, the Group develops state-of-the-art IT solutions and offers IT systems all over the world.
The Group has its headquarters in the financial centre of Frankfurt/Rhine-Main, as well as a strong global presence in locations such as Luxembourg, Prague, Cork, London, New York, Chicago, Hong Kong, Singapore, Beijing, Tokyo, and Sydney.