Treasury and liquidity management technology provider Hazeltree has secured an investment of $14m in its funding round led by FINTOP Capital, a venture capital company that serves fintech B2B software as a service (SaaS) industry.
Private markets investment management company Hamilton Lane also joined the round.
In addition, FINTOP Capital co-founder and managing partner Rick Kushel is set to become a board member at Hazeltree, which provides solutions to the alternative asset and investment management sector.
Kushel said: “We were greatly impressed by the Hazeltree business and the strength of its model in the alternative asset management space, particularly hedge funds and private equity.
“I am very excited to be joining the board of such a dynamic growth company and helping it build on its success to date.”
Hazeltree executive chair Douglas Haynes said: “Amid market volatility and economic uncertainty, this investment affirms Hazeltree’s powerful and resilient business model.”
Haynes further added: “We saw extensive interest from the investment community, but FINTOP’s operating expertise stood above all others.
“We couldn’t be happier to be partnering with FINTOP and Hamilton Lane. Their respective reputations in the industry speak for themselves.”
Hazeltree CEO Tushar Amin stated that the latest infusion would help the company to enhance its commercial model, develop new products and solutions, among others.
In April this year, the company announced that alternative investment specialist LGT Capital Partners had concluded the first phase of implementing its cash and liquidity management solution. The implementation has facilitated the aggregation and optimisation of LGT Capital Partners’ fund financial management operations. It also helps the firm to enhance the operations of its cash, debt and liquidity management systems.