Alternative investment platform Gridline secures $18.5m in Series A

Gridline, a exertion supplier for advisory firms managing backstage marketplace investments, has raised $18.5m successful Series A funding.

The round, led by FINTOP, is acceptable to velocity up the company’s improvement of its level aimed astatine consolidating and automating backstage marketplace concern processes.

The concern volition beryllium utilized to beforehand features connected Gridline’s platform, with contiguous absorption connected AltComply, an AI-powered owed diligence tool.

AltComply is designed to automate the processing of documents, standardise investigation procedures, and place imaginable risks, with the purpose of improving ratio and consistency erstwhile reviewing backstage investments.

Gridline plans to summation its workforce crossed engineering, commercial, operations, and money medication departments.

Gridline co-founder and CEO Logan Henderson said: "We built Gridline arsenic an end-to-end level advisors tin trust connected to tally backstage marketplace programmes with assurance and consistency.

“By owning the underlying information infrastructure, we support accusation standardised, up-to-date, and actionable, truthful firms person close insights successful 1 place, precisely erstwhile they request them. That instauration delivers the intelligence, control, and reliability advisors person been missing successful backstage markets."

The institution provides a azygous level for advisory firms to negociate the afloat lifecycle of backstage marketplace operations, covering tasks specified arsenic concern review, onboarding, transaction execution, oversight, and reporting.

According to feedback from users, the level has contributed to reductions of up to 90% successful clip spent connected manual reconciliation and savings of 10 to 30 hours per concern successful owed diligence and monitoring work, noted the company.

Gridline works with registered concern advisers, multi-family offices, and backstage banks successful their efforts to negociate and grow backstage marketplace concern programmes.

"Alternative concern level Gridline secures $18.5m successful Series A" was primitively created and published by Private Banker International, a GlobalData owned brand.

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