Funding round
FNZ Growth
Reported as "Growth Equity"
FNZ, which works in wealth management technology platform development in Edinburgh, raised $1.40B in a Growth round announced on 11 Feb 2022, at a $20.00B post-money valuation. 2 firms took part, 1 of them already investors. It is FNZ's first venture round on record.
$1.40B
Amount raised
$20.00B
Post-money valuation
$18.60B pre-money
2
Investors
no lead named
7.0%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced FNZ at $20.00B after the new money. The $1.40B bought investors about 7.0% of the company. It is FNZ's first venture round on record, 19 years after it was founded in 2003. It is 56% of the $2.50B FNZ has raised in the venture rounds on record. FNZ raised again 45 months later: a Growth round of $650M in Nov 2025.
Investors
Who put money in
2 firms took part; no lead investor was named.
Investors
- Canada Pension Plan Investment Board existing investor
- backs 40 venture-backed companies new investor
Joined the board: Rob Heyvaert (Motive Partners).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations, acquisitions and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
20 Growth rounds in Investment Consultants & Financial Advisors within a year either side disclosed an amount; the median was $95M, and this round was 15 times the median. The closest in time, other companies' Growth rounds in Investment Consultants & Financial Advisors:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Investment Consultants & Financial Advisors | 29 Mar 2022 | $200M | not disclosed | not named |
| Investment Consultants & Financial Advisors | 20 Jan 2022 | $48M | not disclosed | not named |
| iCapital Investment Consultants & Financial Advisors | 23 Dec 2021 | $50M | $6.00B | WestCap |
| Investment Consultants & Financial Advisors | 25 May 2022 | $80M | not disclosed | GIC |
| Investment Consultants & Financial Advisors | 30 Nov 2021 | $26M | not disclosed | Prosus Ventures and EDBI |
| Investment Consultants & Financial Advisors | 1 Jun 2022 | $100M | not disclosed | not named |
| Investment Consultants & Financial Advisors | 13 Jun 2022 | $100M | not disclosed | Bain Capital Credit and J.C. Flowers & Co. |
| Investment Consultants & Financial Advisors | 20 Jun 2022 | $35M | not disclosed | Nicklas Storåkers |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did FNZ raise in its Growth round?
FNZ raised $1.40B in its Growth round, announced in Feb 2022.
Which investors took part in FNZ's Growth round?
Canada Pension Plan Investment Board and Motive Partners.
What was FNZ's valuation at the Growth round?
$20.00B post-money ($18.60B pre-money).
How does it compare with other Growth rounds in Investment Consultants & Financial Advisors?
20 Growth rounds in Investment Consultants & Financial Advisors within a year either side disclosed an amount; the median was $95M, and this round was 15 times the median.
Did FNZ raise again after this round?
Yes: a Growth round in Nov 2025 of $650M.