Moonfare, a digital platform for private equity investing, has adopted fundcraft’s fund administration infrastructure.
The partnership has seen Moonfare – which ‘democratises’ private markets investments – able to automate more processes, said the firm’s chief operating officer, Magnus Grufman.
Moonfare launched its first fund in 2018 and now has over 61,000 members, almost 4,800 active investors in over 110 funds, and €3 billion under management. The firm has 200 employees operating from four locations across 22 countries.
Grufman said: “Moonfare is a digital asset manager heavily reliant on technology, and in fundcraft we have found a tech-first partner for fund administration. It’s a great match.
“We have been able to automate many end-to-end processes, as well as enjoy much higher transparency by having all data and processes centralised on a single system. Most importantly, we have future-proofed the business for the next phase of growth.”
The firm added that, given the business’s rapid growth, its emphasis on efficiency and automation, as well as the expectations of its customers for a fully digital experience, meant Moonfare’s challenge was to find an administrator able to offer API integration into the Moonfare platform and fully digital KYC and capital call processes.
The win is a boon for fundcraft, which is based in Luxembourg and describes itself as a “leading provider of digital-native fund operations”. The firm has similar ambitions to Moonfare to revolutionise the asset management industry at a time of mounting efforts at digital transformation.
Olga Porro, chief product officer at fundcraft, said: “This is a true partnership with Moonfare. We have worked extremely collaboratively from the start, adapting and enhancing the platform to achieve really important productivity gains and making fundcraft a better solution for all of our clients, present and future. We look forward to a long and fruitful relationship ahead.”
