Finnish venture capital firm Gorilla Capital has announced an investment in Fundrella, a Stockholm-based B2B SaaS startup. Fundrella is upending the worldwide ESG matchmaking process between asset management firms and professional investors by facilitating the selection and distribution of funds. The amount of the deal is left undisclosed.
About Fundrella
- Funderlla was founded in 2019 by Wava Bodin with the support of four Nordic insurance businesses (Länsförsäkringar, Folksam Fondförsäkring, Futur, and Movestic) to digitise manual processes at the junction of Asset Managers and Professional Investors.
- Wava's previous experience as a VP at BlackRock and Fidelity provided her with unique insights into the asset management industry's inefficiencies. According to the company, with €630 billion in investable assets, the top fund selection teams in the Nordic region already use Fundrella.
- Through the use of ESG to link Professional Investors and Asset Managers, the company seeks to expedite the flow of cash to impactful investments. Asset Managers can publish funds on Fundrella using 200+ ESG parameters, ranking higher in searches by leading Professional Investors. They can also access market insights, follow client demand, and optimise efforts towards Professional Investors.
“The global asset management industry is under great pressure to move towards a sustainable future but lacks efficient tools for this transition. That’s why Fundrella came about. We accelerate the shift,” Wava Bodin, Founder & CEO of Fundrella, commented.
Investment details
The backer Gorilla Capital is one of the Nordic's most active early-stage investors. The fund invests €50,000 to €1 million, which are typically the first institutional money in a startup. The firm usually co-invests in pre-product/market fit alongside business angels and provides focused guidance, mentoring, and a learning environment post-investment, apart from the capital.
“When we meet startups at Gorilla Capital we drill deep and try to find the founders’ why and how the business got started. With Fundrella and Wava, we quickly found our boxes ticked. Wava’s senior experience from the industry, her ability to execute, and her understanding of the dynamics between the buy side and sell side were impressive,” Petter Hattenbach, Venture Partner, Gorilla Capital, states.
Earlier in August, Gorilla Capital already announced an investment in UpUp, another Swedish company.