Light Frame, a provider of core banking and portfolio management software for wealth managers, has secured $5.1m in an oversubscribed Seed round as uptake of its platform grows among institutions across EMEA.

Fortino Ventures led the investment, joined by new backers Sidekick Partners, Tenity, Chamaeleon and Altair Capital. Earlier supporters Rogue Venture Partners, New Stack Ventures and Studio Alpha also took part.

The raise comes as more institutions in the EMEA region take on Light Frame’s software. The business is already running live client operations and is building its footprint in private banking and wealth management.

Light Frame plans to put the new capital into further platform development, more capacity for implementation and client delivery, and growing its commercial operations, with an initial focus on EMEA.

The company argues that much of the wealth sector still depends on systems designed decades ago, leaving firms with infrastructure that takes too long to deploy, costs too much to run and struggles to keep up with changing demands.

In response, Light Frame has built core banking and portfolio management tools aimed squarely at wealth managers. Its platform brings banking and investment functions together on a cloud-native, API-first foundation built with AI at its centre.

Using built-in AI tools and a secure interoperability layer, clients can automate complicated processes, help staff work more efficiently and offer more advanced services to their customers. Because the system is fully modular, firms can either upgrade specific parts of their current setup or move to the full platform, cutting deployment time, complexity and overall cost of ownership.

Source link