PureFacts Financial Solutions, a Canada-based provider of wealth management software, has closed a C$20m ($15.5m) funding round backed by banking firm Scotiabank and venture capital firm Round 13 Capital.
Founded in 2010, PureFacts provides wealth management and asset management software for financial services businesses. The round is the first institutional funding for the company, which said in a statement it had existing relationships with both investors.
The capital will support PureFacts’ global growth plans and fund potential acquisitions. It will also use the money to speed up product development and expand its sales and marketing operations.
The company acquired VennScience, a consulting firm focused on customer relationship management platform Salesforce, in May this year, and Quartal Financial Solutions, a provider of revenue and expense management software, earlier this month.
PureFacts CEO Robert Madej said: “As a client-centric firm, our search for financial partners has focused on ensuring that our corporate values are aligned and that our clients’ interests are front and centre.
“We are very excited to be partnering with Scotiabank and Round 13 Capital as they showed tremendous flexibility in creating a win/win scenario. Having their financial support and expertise will help us service our clients around the globe, execute on our vision and fuel our continued growth plans.”