London fintech start-up Duco raises £20m

Duco, the data engineering technology company, today announced the completion of a $28m investment round by Insight Venture Partners, NEX Opportunities and Eight Roads Ventures.

The company has seen rapid and global growth as the industry re-platforms, adopting advances in leading technology to eliminate operational risk and cost and making actionable data more immediately available across the enterprise. Duco will use the investment to expand its global footprint, with headcount growth in Europe and the US, the launch of an Asia office and an expansion of its award-winning product set.

Duco, which was founded eight years ago by a computer science postgraduate from University College London, allows financial institutions to manipulate enormous amounts of data through remote internet servers, popularly known as the cloud. It is understood the funding round values the company at about $100m.

The investors behind Duco’s latest funding included Fidelity International’s investment arm Eight Roads and Insight Venture Partners, both of which backed the $500bn ecommerce giant Alibaba.

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