bunch Raises €30.1M Series B for Private Markets Tech

Berlin-based FinTech innovator, bunch, has successfully closed a €30.1 million Series B funding round, signaling a significant push to modernize the operational infrastructure underpinning Europe's rapidly expanding private markets. The substantial capital infusion, which includes a lead investment from Portage and participation from Illuminate Financial, Motive Partners, Cherry Ventures, and Fintech Collective, alongside existing angel investors, will fuel the company's commercial expansion across the continent and enhance its technology stack with advanced automation and AI capabilities.

This latest funding brings bunch's total raised capital to over $58 million since its inception in 2021. The company is strategically deploying these resources to broaden its platform's reach into new geographies, asset classes, and operational workflows. Co-founder and CEO Enrico Ohnemüller emphasized the critical need for updated infrastructure, stating, \"GPs cannot scale on spreadsheet-era infrastructure.\" He highlighted bunch's mission to provide fund managers with a unified platform designed for the complexities of multi-jurisdictional European operations, blending expert knowledge with AI-driven systems to achieve greater efficiency and scalability.

The private markets sector is experiencing unprecedented growth, with Assets Under Management (AUM) projected to reach $32 trillion by 2030. This expansion, coupled with regulatory developments like ELTIF 2.0 aiming to democratize access to alternative investments, places immense pressure on fund managers. They are increasingly tasked with serving a larger investor base, delivering more comprehensive reporting, and navigating intricate operational demands. However, traditional systems, often reliant on manual processes, spreadsheets, and email, are proving inadequate for this evolving environment.

bunch positions itself as the solution, offering an integrated, digital operating layer that streamlines the entire fund lifecycle. From initial investor onboarding and capital calls to fund administration, accounting, and tax reporting, the platform is built to handle the specific challenges of European private markets. Its technology is capable of processing unstructured data from fund documents, extracting critical information, and maintaining clear audit trails, all while ensuring essential human oversight to preserve control and compliance.

The company reports significant traction, currently supporting over 150 fund managers and more than 12,000 Limited Partners (LPs) across key European regions. Demonstrating robust market adoption, bunch experienced a 300% expansion in Annual Recurring Revenue (ARR) in 2025, coupled with a strong net revenue retention rate of 156%. Its client roster includes notable firms such as FINVIA Family Office, Passion Capital, Hummingbird VC, Merantix, Tiny Supercomputer, and Antler.

Helene Falchier, Partner at Portage, commented on the strategic fit, noting that bunch is building "structurally necessary" financial infrastructure for growing markets. She specifically pointed to the company's deep understanding of Europe's demanding regulatory environment as a key differentiator, enabling them to build a defensible and hard-to-replicate solution.

With this new capital, bunch intends to accelerate its go-to-market strategy, targeting growth in key markets like Germany, the UK, and Luxembourg. Product development will focus on enhancing AI-driven automation for core operations, including compliance and reporting. The company also aims to build a scalable operating model to support a wider array of fund operations across diverse asset classes and jurisdictions, solidifying its role as a critical enabler for the future of European private markets.