Berlin fintech startup bunch has announced the successful closing of its $15.5 million Series A. 

Private markets are experiencing unprecedented growth, however, the industry is still reliant on outdated tools and methods, such as sloppy spreadsheets, complex workflows, and paper-based processes, reminiscent of the 1980s. 

Founded in late 2021, bunch is an end-to-end platform that enables funds and investors to operate, administrate, and transact within private markets.

Its data-centric approach helps GPs and LPs save time, money, and mental energy by reducing complexity and replacing legacy providers with tech, as bunch heavily leverages AI and automation workflows. 

“Alternative Assets are the fastest-growing asset class, yet their operational processes remain stuck in the past,” says Levent Altunel, co-founder of bunch. 

“Our Series A funding will accelerate “bunch’s mission to bring this industry into the 21st century, driving a much-needed digital transformation. We are thrilled to have true private market experts as investors supporting our vision of transforming the space and are excited to bring our innovative solutions to more investors across Europe and beyond,” adds Enrico Ohnemüller, co-founder of bunch. 

In just over two years, fund managers and institutional LPs across Europe and beyond, have collectively committed over €2 billion through the platform. 

FinTech Collective led the funding round, joined by a mix of established and emerging investors. This included existing backers Cherry Ventures and Motive Ventures, alongside well-respected firms like Broadhaven Ventures and Philipp Moehring’s TinyVC. Additionally, prominent angel investors from leading fintech companies like Klarna, Moonfare, and Kinnevik participated.

According to Toby Triebel, Partner at FinTech Collective, in an industry that looks a lot like the public markets did in the 1980s, bunch is changing the game for private markets GPs and LPs. 

“By automating complex workflows and integrating all pre- and post-close services on a single platform, bunch has created an operating system to enable funds to operate more efficiently, scale more rapidly, and foster stronger relationships with LPs and other stakeholders. 

The team sets bunch apart — we first met Levent and Enrico more than two years ago and since then they’ve built up a strong team and they’ve strong platform with the sophistication to reach the full spectrum of enterprise clients.”

With this new funding, bunch plans to expand into new asset classes and geographies, with a particular focus on the UK market and Private Equity clients and also invest in enhancing its platform capabilities through digital analytics and growing its team of fintech and investment experts. 

Lead image: bunch. Photo: uncredited.