Bite Investments has landed a $25 million strategic growth investment from US private capital firm NewSpring Capital, with plans to scale its flagship Software-as-a-Service (SaaS) platform Bite Stream.
The investment was made through the NewSpring Growth fund, and builds a $3 million seed round co-led by Apex Fund Services and VCP Advisors in April 2020, and an undisclosed pre-Series A+ round headed by JMP Group in San Francisco the following year.
Based in the UK, Bite Investments was founded by VCP Advisors chief Henry Talbot-Ponsonby and CEO William Rudebeck in 2019. The company went on to debut its Bite Stream platform for alternative asset managers and family offices in 2022.
The platform provides “end-to-end solutions designed to simplify and streamline the entire investment process”, the company says, including tools for fundraising, investor relations and onboarding, reporting, and data management.
Alongside plans to scale the platform, Bite Investments is also looking to expand its team, currently comprising 70 employees.
Earlier this year, it merged with UK wealthtech Untap in February. Untap’s portfolio monitoring and reporting capabilities were integrated into Bite Investments’ flagship offering.
A company spokesperson declined to reveal Bite Investments’ current valuation when speaking to FinTech Futures.
Source: https://www.fintechfutures.com/
