Private investment management platform Arch raises $20m Series A
US-based fintech start-up Arch, which describes itself as a “digital admin” for private investments, has secured $20 million in a Series A funding round led by Menlo Ventures.
Arch raises $20m Series A
The round also saw participation from existing investors Craft Ventures and Quiet Capital, and new investors Carta, Citi Ventures, GPS Investment Partners and Focus Financial Partners.
Also taking part were founders of a number of tech firms and members of Arch’s client base.
The latest funding follows an initial $5.5 million raise in 2021, and brings Arch’s total funding to date to over $25 million.
Founded in 2018 and headquartered in New York, Arch helps single and multi-family offices, wealth management firms, accounting firms, banks and financial institutions manage their K-1 workflows, automate operations and provide “reporting-ready” data, allowing investors to manage their investments in one place. It claims to serve nearly 200 such firms, including “one of the largest US banks”.
“Arch is building the digital backbone for the tens of trillions of dollars that sit in alternative assets,” comments Croom Beatty, partner at Menlo Ventures.
“By aggregating and connecting upstream data from disparate sources, Arch unlocks highly valuable workflows and data products for investors, advisors and anyone who touches alternative asset data.”
Arch will use the new funding towards developing its product roadmap, with plans to automate more workflows for advisors, accountants and their clients, provide increased insights and develop tools that help reduce the risk of fraud.
