ABN AMRO joins $80m Fenergo funding round

ABN AMRO has joined an $80 million funding round for Fenergo, an Irish startup offering client lifecycle management (CLM) and digital transformation software.

The round, which values Fenergo at $800 million, was the latest investment from ABN AMRO’s ventures fund, and was accompanied by funding from IT services company DXC Technology.

The Dublin-based company said the investment will facilitate further product enhancement and the potential acquisition of new business units or capabilities that are strategically important.

Fenergo’s provides CLM solutions enable global financial institutions, including ANZ, PNC, Banc of California and National Australia Bank, to digitally transform client onboarding and improve regulatory certainty. It has recently expanded into new markets including asset and wealth management, private, retail, business and commercial banking and reshuffled its top team to lead the company’s expansion.

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