Financial technology company Canoe Intelligence has opened its London office as part of its EMEA expansion strategy.
The location will support regional team growth within multiple departments and strong client growth with asset and wealth management.
Canoe plans to continue expansion and has appointed Rob Calder, enterprise sales executive, and Aman Soni, VP of data strategy, to aid this.
The firm has recently doubled its client base to over 200 alternative investors and administrators in 2022 and witness growth. Around 20% of Canoe’s clients are located in the EMEA region.
Furthermore, this year, it expanded its coverage to more than 25,000 funds processing more than 10 million documents and 40 million data points annually. As a result, there was a 94% ROI on time spent collecting documents, reducing 18 hours monthly to just one and a twenty-fold increase in the number of fund processed by each employee.
Jason Eiswerth, chief executive at Canoe Intelligence, said: “We are excited about London becoming a new hub for Canoe, following our successes in the American market. The location was attractive to us from both an operational and a talent perspective. As we are currently undergoing incredible growth, it is paramount that we have access to some of the brightest minds in Europe to ensure we achieve the goals we have set for 2023 and beyond.”
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Alston Zecha, partner at Eight Roads and Canoe Investor, added: “Canoe has become a mission-critical solution for the alternative investment industry in North America, with a proven track record of impressive customer results. The EMEA alternative investment industry is nearly the same size as North America with identical data challenges, but with no comparable local solution. By opening a hub in London, Canoe shows its commitment to creating a truly global platform: being closer to its European customers and tapping into additional talent pools to grow its world-class team.”