The business is one of those organisations designed to streamline processes in and around the fund management sector.

UK-based Fundpath, the data and business intelligence service for the wealth and asset management industry, wrapped up a further a further £2 million ($2.5 million) funding round this week with its venture capital partner, Fuel Ventures.

This second round of funding follows the £4 million investment made in March 2023.

Fuel Ventures’ “Follow-On EIS Fund” and its newly-launched “VCT Fund” have chosen Fundpath for a follow-on round of investment. Fuel invests in the growth of ambitious tech companies.

The fundraising has taken place as Fundpath onboards 100 asset management firms.

Data is gathered from more than 1,000 wealth management organisations in the UK, Channel Islands, and Ireland, then shared with fund distribution teams to help streamline communication, improving everyone’s professional lives.

“Investment distribution is evolving fast, and we are continually tracking change, working tirelessly to achieve our mission of enabling a more effective and efficient marketplace. In a landscape of constantly shifting people, markets, and sentiment, Fundpath represents a single source of truth,” Fundpath co-founder and CEO, Jamie Hinchliffe (pictured), said.

The firm appointed a chief growth officer and made other hires last year.