Fenergo gains $80m investment from ABN Amro, DXC Technology
Regulatory compliance and lifecycle management firm Fenergo has secured $80 million in funding and a post-money valuation of $800 million, with investment from ABN Amro and DXC Technology.
The funding round sets a post-money valuation of $800 million
Dublin-based Fenergo plans to use the funding to continue building out its product portfolio and to provide a stable base from which it can launch mergers and acquisitions.
“We look forward to further accelerating digital transformation, enabling better client experiences and delivering even greater value to our shared customers going forward,” says Spencer Lake, vice chairman of Fenergo.
With the latest round Fenergo has raised $155 million to date. Its previous backers have included BNP Paribas, Insight Partners and Investec.
ABN Amro invested via its venture arm. Hugo Bongers, director of AMB Amro Ventures, says: “We are impressed with the management team and solution Fenergo offers. In addition, this gives us additional exposure to a group of tier one investors.”
Founded in 2019, Fenergo has clients include ANZ, PNC, Banc of California, National Australia Bank, Canadian Imperial Bank of Commerce, and UBS Asset Management among others.
