London fintech startup completes £4.2m funding round to accelerate roadmap

A London finance platform has announced that it has completed a £4.2m funding round.

HUBX has announced the completion of a $5.5m (£4.2m) funding round with the closure of the second tranche of financing.

European B2B technology venture fund Basinghall Partners, together with Barclays, ELITE and individual investors, participated in the fintech startup’s latest funding round.

The investment will be used to accelerate HUBX’s product roadmap, grow the team and scale its marketing and distribution capability.

Axel Coustere, co-founder of HUBX, commented: “There’s tremendous potential in helping organisations digitise their private capital raising and distribution activities, with current conditions accelerating the trend towards the digitisation of all transactions end-to-end.

“We are delighted that our investors are seeing the significant opportunity to transform private financing globally.”

Stephen Ong, also co-founder, said: “We are excited to welcome Basinghall Partners into HUBX alongside Barclays and ELITE.

“This latest capital raise will support the acceleration of our product roadmap, grow the team and scale up our marketing and distribution capability.”

Andrew Irvine from Basinghall Partners added: “We are pleased to add HUBX to our portfolio and look forward to providing our network and knowledge base to further enable the HUBX opportunity.

“Simplifying and connecting private capital markets with the latest technology is an exciting and topical prospect.”