Fundrella awarded second innovative startups grant from Vinnova
Sweden's Innovation Agency, Vinnova, awards the Innovative Startups step 2 grant to Fundrella to support their efforts in becoming the new market standard for fund reporting. Vinnova supports companies that have a positive impact on society, showing international potential and scalability and that are aligned with the UN Sustainable Development Goals (SDG) of the 2030 agenda.
Fundrella is a digital platform for qualitative fund information, established to improve the flow of information between fund companies and professional investors. Fundrella’s search engine can be used to find the right funds based on specific needs, e.g. sustainability (ESG) criteria.
The first grant from Vinnova, received approximately a year ago, was used to support the launch of an innovative platform to introduce a new and digital tool for monthly fund reporting between fund managers and their clients, professional investors, and to create foothold in the Nordic region. The objective was met as the combined Nordic Professional Investor user base of Fundrella today represent a total of >4500 Billion SEK in assets under management (AUM).
The decision of the Innovative Startups Step 2 grant from Vinnova was made public yesterday evening. This grant will be used to further support Fundrella’s efforts towards a swift geographic expansion with the aim of becoming global in the near future. The grant will also be used to develop an institutional version of Fundrella aiming at standardising bespoke reporting for mandates.
Wava Bodin, Founder & CEO:
“We are very excited to have received this grant from Vinnova. We firmly believe digital solutions can bring fund managers closer to their clients by giving them the opportunity to show case their fund offering and differentiate their products. Professional Investors can find and filter funds based on their specific needs, which makes the platform a win-win on both sides of the table.”
“From a societal perspective, it’s vital that professional investors, such as pension- and insurance companies, banks and financial advisors have different tools at hand that help them find, filter and monitor their external fund offering as it is our individual pensions and household savings that ultimately are managed by these funds. The level of sophistication is very high in the Nordics when it comes to fund analysis, selection and monitoring, not to mention the level at which ESG is incorporated in these processes.”