Duco secures Nordic Capital investment to fuel expansion plans
Swedish private equity firm Nordic Capital has made an undisclosed investment in London-based no-code data automation firm Duco.
Duco raised $28m in a Series B funding round in 2018
Nordic Capital will acquire a majority shareholding in the company from current investors CME Ventures, Insight Partners and Eight Roads Ventures.
The firm says the investment has been made with the aim to accelerate Duco’s growth and expansion.
It says the funds will help increase Duco’s international footprint while also fueling product development and hiring.
Duco provides cloud-based Software-as-a-Service (SaaS) data management solutions to financial services, insurance and fintech companies.
Headquartered in London, the company has 140 employees in the UK, US, Singapore and Poland. It counts Societe Generale, ING, Man Group and Currencycloud among its customers.
Duco says its mission is to “make managing data easy” by replacing spreadsheets and legacy tech in areas like data prep, reconciliation, data quality and data management with a machine learning-powered platform.
Duco’s founder Christian Nentwich will remain as a shareholder and CEO.
Nentwich claims the deal will take the company to the “next level” and will allow the firm to strengthen with both organic and acquisition growth in the future.
