Third-party UCITS exchange-traded fund (ETF) provider HANetf has completed a significantly oversubscribed seed funding round.
The white label provider expects to support more than 100 ETFs over the next five to seven years.
The solution offers services for US and Asian ETF issuers and traditional asset managers seeking to enter the market in Europe, including product development, compliance, operations, capital markets, sales, marketing and distribution.
HANetf was founded by co-CEOs Hector McNeil and Nik Bienkowski who previously helped found and establish ETF Securities.
McNeil said: “Our goal is to become a new force in ETF innovation in Europe by helping clients enter the space efficiently and without having to commit to running full-scale ETF businesses, thus significantly lowering barriers to entry.”
Bienkowski added: “Since creating the concept, we have made significant progress toward setting up our platform to be open for business and this round of funding will help us rapidly scale the business and onboard clients.”
He added: “After helping to bring numerous investment products to investors for the first time, HANetf is now looking forward to assisting the next wave of asset managers to issue new and innovative ETFs.”
Investors in the funding round for HANetf included Peter Thompson, co-founder of Source ETF; Point72 Ventures, an asset management service, and Elkstone, a wealth management firm, based in Ireland.
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