ETFBOOK Raises $13M for Global ETF Data Platform Expansion

Zurich-based ETFBOOK, a specialist in exchange-traded fund data and analytics, has successfully closed a $13 million funding round. This capital infusion, led by Expedition Growth Capital with participation from existing investor BlackFin Capital Partners, is earmarked for significant international expansion, targeting the U.S. and Asia-Pacific markets. The company, formerly known as SquaredData AG, aims to solidify its position as a critical intelligence layer for the rapidly evolving global ETF ecosystem.

The influx of capital will fuel the enhancement of ETFBOOK's data coverage and analytical capabilities, alongside the establishment of substantial operational hubs in New York and Hong Kong. This strategic move addresses the increasing complexity and scale of the ETF market, which has seen exponential growth. Global ETF assets under management have surged to approximately $25 trillion, with projections indicating a climb towards $35 trillion by 2030. This expansion is crucial as over 1,320 new ETFs launched in Europe and the U.S. between January and September 2026 alone, underscoring the need for robust data solutions.

ETFBOOK's platform is designed to aggregate, standardize, and interconnect fragmented ETF information, encompassing fund flows, holdings, trading activity, and market segment data. This comprehensive approach tackles the data fragmentation challenge faced by a wide array of market participants, including issuers, fund administrators, market makers, and asset managers. By providing a unified, normalized data stream, ETFBOOK aims to streamline operations and reduce the manual reconciliation efforts that have long plagued the industry.

The company's growth trajectory is impressive, with its enterprise client base now exceeding 70 firms, a significant increase from its Series A financing. Recurring revenue has seen an annual growth rate surpassing 100% over recent years. ETFBOOK's current platform covers over 11,000 ETFs across Europe and the U.S., delivering daily T+1 data on flows, trading, and holdings. The firm offers flexible data access through APIs, a proprietary web platform with advanced analytics, and its Workforce solution for integrated operational workflows.

A key element of ETFBOOK's strategy involves leveraging artificial intelligence to automate data ingestion, processing, and distribution. This AI-native architecture is intended to enable scalable data handling without a proportional increase in headcount. The company is also integrating conversational AI features, further enhancing its product offering. The expansion into the U.S. market will be supported by Steve Twomey of Expedition Growth Capital joining ETFBOOK's board, alongside the establishment of a U.S. entity and local hiring.

The strategic importance of the U.S. market cannot be overstated, given its significant contribution to ETF innovation and adoption. Similarly, the planned Hong Kong office will bolster ETFBOOK's presence in the dynamic Asia-Pacific region. This global build-out, complemented by its existing European operations and technology hub in Cracow, positions ETFBOOK to serve a truly international client base. The firm's focus on becoming a specialized data infrastructure provider aligns with the market's increasing reliance on standardized, accessible data for both human analysis and automated financial applications.