bunch, the fintech company transforming private markets, announced the successful closing of its $15.5 million Series A. The round is led by global investor FinTech Collective, and existing investors including Cherry Ventures and Motive Ventures are doubling down. Top private market experts such as Broadhaven Ventures and former AngelList Europe Head Philipp Moehring's TinyVC, as well as angel investors including founders and executives of Klarna, Moonfare, and Kinnevik participated.

Private Markets are Stuck in the 80's

Private markets are experiencing unprecedented growth, with alternative assets expected to reach nearly $40 trillion by the end of the decade. However, the industry is still reliant on outdated tools and methods, such as sloppy spreadsheets, complex workflows, and paper-based processes, reminiscent of the 1980s. With more and more investors pushing to participate in private markets, this rapid expansion has created an urgent need for modernisation in the industry’s workflow infrastructure and data management systems. 

Introducing bunch: The Backbone of Private Markets

Founded in late 2021 by Levent Altunel and Enrico Ohnemüller, bunch is the end-to-end platform that enables sophisticated funds and investors to operate, administrate, and transact within private markets, in a seamless and secure manner. The data-centric approach helps GPs and LPs save time, money, and mental energy by reducing complexity and replacing legacy providers with tech, as bunch heavily leverages AI and automation workflows. This allows GPs to focus on what they do best: raising capital and investing. In turn, bunch’s solution also makes LPs’ lives much easier as they use bunch as their Private Markets system of records.

"Alternative Assets are the fastest-growing asset class, yet their operational processes remain stuck in the past," says Levent Altunel, co-founder of bunch. "Our Series A funding will accelerate bunch’s mission to bring this trillion-dollar industry into the 21st century, driving a much-needed digital transformation. We are thrilled to have true private market experts as investors supporting our vision of transforming the space and are excited to bring our innovative solutions to more investors across Europe and beyond," adds Enrico Ohnemüller, co-founder of bunch.

Rapid Growth and Industry Trust‍

In just over two years, bunch has already earned the trust of leading fund managers and institutional LPs across Europe and beyond, who have collectively committed over €2 billion through the platform.

‍The Growing Importance of Private Markets Data

‍The private markets data sector is experiencing significant growth, with the industry expected to reach $18 billion by 2030, growing at 12% annually from its current $8 billion size. This growth reflects the increasing demand for standardised data, benchmarks, and analytics that enable investors to better allocate more capital to private markets. bunch's data-centric approach allows investors to store all private market data points in one place, and have access to up-to-date information at any time.

“In an industry that looks a lot like the public markets did in the 1980s, bunch is changing the game for private markets GPs and LPs. By automating complex workflows and integrating all pre- and post-close services on a single platform, bunch has created an operating system to enable funds to operate more efficiently, scale more rapidly, and foster stronger relationships with LPs and other stakeholders. The team sets bunch apart - we first met Levent and Enrico more than two years ago and since then they’ve built up a strong team and equally as strong platform with the sophistication to reach the full spectrum of enterprise clients. We’re thrilled to partner for this next stage of their journey.” says Toby Triebel, Partner at FinTech Collective.

With this new funding, bunch plans to accelerate its growth by expanding into new asset classes and geographies, with a particular focus on the UK market and Private Equity clients. The company will also invest in enhancing its platform capabilities, providing more insights to professional LPs through digital analytics and growing its team of fintech and investment experts.