Global wealth and asset management technology platform FNZ has secured $500m in additional equity funding.

The firm received the new capital from its existing institutional shareholders, who remain “closely aligned” with its strategy and ambitions.

FNZ said the additional funding would provide the business with financial strength to support its long-term business plan, with a renewed focus on customer delivery through technological innovation, and investment in people and operations.

The firm plans to continue investing in its business, while looking to drive efficiencies and sharpen its strategic focus to help position FNZ for long-term growth.

The financial backing will support FNZ in its ambition to simplify and improve wealth management through technology.

FNZ has $1.7trn in assets under administration and is partnered with more than 650 financial institutions and 12,000 wealth managers, on behalf of more than 24 million end investors.

Commenting on the announcement, FNZ group chief executive officer, Blythe Masters, said: “This new capital will provide the financial strength to support FNZ’s long-term business plan and enduring success with customers.

“We are focused on enhancing long-term value for all of our stakeholders and inspiring trust as we execute on our refreshed strategy.

“The transformation of global wealth management is only just beginning and I’m passionate about FNZ’s role in empowering people to save and invest for the future.

“FNZ already offers market-leading technology, and I am excited to continue innovating and transforming wealth management in partnership with our valued customers globally.”

FNZ group chair, Gregor Stewart, added: “Today’s announcement is another endorsement of FNZ, its strategy and the scale of the opportunity ahead, as we continue to partner with leading wealth and asset managers globally to help savers invest for their future.

“I would like to thank our long-standing institutional shareholders for their continued support and partnership, and their renewed commitment to FNZ’s success today.

“We are strengthening our foundations and investing to support our customers, drive innovation and create enduring value for the long term.”

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