Dublin fintech Asset Class to expand team after raising $3m

27 May 2021

Image: © Prostock-studio/Stock.adobe.com

The company, which develops software for clients in the financial sector, plans to expand its technical development team in Ireland after securing funding.

Dublin-based fintech start-up Asset Class has secured $3m in a seed round investment.

The funding came from Angel Oak Ventures, the technology venture arm of Atlanta-based financial services firm Angel Oak Companies.

Asset Class, which was founded in 2020, provides software to clients across financial sectors including private equity venture capital, financial advisory and commercial lending. It is headquartered in Dublin but also has offices in New York and London.

“We are focused on helping clients take the necessary leap forward to digitise everyday, end-to-end processes with their clients and partners,” said Ferdinand Roberts, CEO and founder of the business.

“Asset Class removes the inefficiencies and waste that come from largely paper-based interactions across our target markets.”

Roberts added that the investment from Angel Oak will help the company accelerate the development of tech for the financial services market.

The company now plans to expand its technical development team in Ireland. It also plans to invest in sales as it targets customers in Europe and the US.

Sreeni Prabhu, co-CEO of Angel Oak Companies, and Nik Chillar, co-president of Angel Oak Commercial Lending, will join the Asset Class board.

“Investing in Asset Class made sense for us as we look at some of the macro-level shifts in financial services,” said Prabhu.

“Working with Asset Class will enable us to execute on our digital-first initiatives as we enable partners, investors and borrowers to conduct business with us in a frictionless manner. Asset Class represents the ideal mix of entrepreneurial spirit and ability to execute that Angel Oak Ventures seeks to invest in.”

Sarah Harford was sub-editor of Silicon Republic