TrackInsight, a French fintech company specialised in the development of a platform for ETF selection and analysis, has raised €2.5m from New Alpha Asset Management – primarily owned by La Française AM and OFI AM – and Aviva France, to facilitate further development.
The latest funding round takes TrackInsight’s total funding to over €4m. Currently the company runs what is claimed to be Europe’s first ETF analysis platform – www.trackinsight.com – which gives professional investors access to analysis software to compare the replication quality of different ETFs.
Launched in October 2014, the platform has over 3,500 professional users, according to figures from the company, who have access currently to some 900 European funds, and daily analysis of 94% of assets managed in European domiciled ETFS.
Globally, TrackInsight points to a growth rate of the ETF market of 20% annually, and where there are some 4,500 products already representing AUM of $3trn, or 15% of the global total investment AUM.
Jean-René Giraud, co-founder and CEO of TrackInsight, said that the company is focused on Europe first, but that it is preparing to roll out the platform to the US and Asia. The latest investment round will give it more resource to achieve its objectives. Additional facilities on the platform are intended to deepen the analytical capabilities. Having the support of New Alpha AM and Aviva France “will allow us to position TrackInsight as an essential player at the heart of the ETF revolution,” Giraud added.
Jonathan Cohen-Sabban, Private Equity Investment director at New Alpha AM, and Hugues Sévérac, head of innovation at Aviva France, cited the quality of the existing user base and the quality of the analytical product already deployed for their respective decisions to invest.
Sévérac added that “TrackInsight’s expertise will give us a window into this fast-growing market, which is going to impact on the insurance business over the next few years.”