Fintech Firm Enfusion Raises Funds at $1.5 Billion Valuation

(Bloomberg) -- Enfusion LLC, a startup that specializes in software for asset managers, has raised financing at a $1.5 billion valuation, the company announced Monday.

Iconiq Growth -- an affiliate of Iconiq Capital -- has invested $150 million for a minority stake in the business, according to a statement. Existing investors include FTV Capital and Hillhouse Capital.

The Chicago-based company says its software provides real-time and data-driven intelligence in a cloud-based offering. It’s aimed at keeping tabs on order, execution and portfolio management.

“We’re trying to simplify the overall workflows that an investment manager has to undergo from front to back,” Chief Executive Officer Thomas Kim said in an interview.

The company’s more than 550 clients include hedge funds, family offices and institutional asset managers. Enfusion says it is profitable and seeing its strongest growth in the Asia-Pacific region.

Enfusion, originally founded in 1997 as a hedge fund technology advisory firm, launched its software system in 2006.

Its current valuation of $1.5 billion is more than double what it was last valued at in 2019.

The company could go public at some point, Kim said, without specifying timing.

“There are a lot of different options available to us,” he said.

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