FundsDLT closes first round of funding
FundsDLT has successfully closed its Series A funding and the Luxembourg Stock Exchange is pleased to welcome Clearstream, Credit Suisse Asset Management and Natixis Investment Managers as additional shareholders of FundsDLT.
As soon as the new ownership structure was established, the shareholders elected Martin Dobbins as the Chairman of the board of directors of FundsDLT. The former State Street executive brings valuable experience supporting financial services firms, asset managers and fintech organisations in implementing their financial, operational and ambitious growth strategies.
Transforming fund distribution
Initiated by the Luxembourg Stock Exchange in 2016, FundsDLT is a blockchain-based platform for the investment fund industry and sets out to facilitate the distribution of funds using distributed ledger technology. Its ambitious goal is to enable asset managers to sell funds through a new distribution channel, while significantly reducing administration costs and processing times throughout the investment chain. Using blockchain technology, FundsDLT will streamline and automate a range of fund administration and order-routing tasks.
With the Series A funding completed, FundsDLT will now focus on strengthening its platform and accelerating its commercial development.
The closing of the first round of funding for FundsDLT represents an important milestone for the Luxembourg Stock Exchange. When four solid financial institutions join forces – each bringing significant influence, market knowledge, resources and a vast network – great things are in store for FundsDLT.
For more information about FundsDLT