Limina, a Stockholm-based startup providing the world’s first and only customizable cloud-native Investment Management Solution (IMS) for mid-sized asset managers, today announces the completion of a €2.54 million Series A funding round. The investment was led by Nordic venture capital firm Industrifonden.
Existing investors, including STOAF SciTech, Vidici Ventures, Almi Invest and Justin Wheatley, the founder of StatPro, also joined the latest funding round. The company’s enterprise SaaS model for asset management IMS has seen great traction from forward-looking asset managers across Europe in the past 18 months. Limina has delivered triple digit growth since 2019, with a steady stream of new client contracts, including Alquity and Lannebo.
Limina will invest the fresh capital into scaling its offering, including further product development and strengthening the expert-led services organisation that complements its technology solution.
Limina Founder Kristoffer Fürst stated: “By blending the benefits of a SaaS model with the flexibility and configurability of an enterprise solution, Limina has met the needs of forward-looking asset managers and delivered a solution that fits the workflows our clients have, as opposed to the client having to fit their workflows around a solution. From the conversations we have with mid-sized asset managers across Europe, we know there is great demand for modernised solutions that can evolve and flex as their businesses grow, and we are intent upon helping them to achieve their investment management goals.”
Ulf Svensson, CEO of Limina, added: “Attracting a large, respected and evergreen investor like Industrifonden, which has been considered an industry leader in both fintech and SaaS investments for many years, is a welcome stamp of approval for Limina and what we have achieved with the business to date.”
With its strong technology and experienced management team Limina aims to upend a market dominated by legacy systems. Limina works with its clients to modernise the fund management industry for the future, starting with the startup’s innovative solution which provides order-raising workflows, pre-trade compliance and real-time portfolio insights.