FundBank
FundBank is a privately held, multi-jurisdictional institutional bank (Cayman, Luxembourg, Ireland, US) serving the global asset management and alternative investment industry with operating, custody, escrow, fiduciary, and trade execution services.
- Company typePrivate
- Founded2023
- HeadquartersGeorge Town, Cayman Islands
- Headcount11–50
- GTM typeB2B
- OfferingServices
What FundBank does
FundBank is a privately held, multi-jurisdictional institutional banking platform dedicated to the global asset management and alternative investment industry. Originally established in 2012 as DMS Bank & Trust, the group rebranded to FundBank in June 2023 and today operates four separately chartered and regulated entities: FundBank Ltd. (Cayman Islands Class B Bank regulated by CIMA), FundBank (Europe) S.A. (Luxembourg credit institution authorised by the European Central Bank and supervised by CSSF, with an Irish branch authorised by the Central Bank of Ireland), and FundBank, N.A. (US national bank approved by the OCC and headquartered in Austin, Texas). The platform delivers operating accounts, subscription/redemption accounts, custodial accounts, escrow services, institutional custody, fiduciary/trustee services (including STAR trusts, unit trusts, charitable trusts, and SPV structures), trade execution via the Prime Access partnership with Interactive Brokers, and digital asset banking infrastructure.
The technology stack combines the Temenos SaaS core banking and payments platform with proprietary client-facing tools: the Sphere client portal (24/7 account management, wire transfers, transaction visibility), the KYC Manager SaaS platform (client lifecycle management, AML/CTF, PEP and adverse media screening, transaction monitoring), Fund Recs' Fusion data transformation layer for fund data reconciliation, and FundBuilder — an AI-powered legaltech service launched with Hatcher+ in September 2025 for instant fund structure creation and Luxembourg IBAN generation. The group acquired Irish Layer-1 blockchain provider Trrue Chain for €10 million in March 2026, adding VASP licensing and pending CASP/MiCA capability to the digital asset offering, and integrated BNY's LiquidityDirect platform in May 2026 for institutional cash and liquidity management.
FundBank monetises through transaction fees on banking and escrow services, recurring subscription-style fees on custody and fiduciary mandates, and transaction-based fees on Prime Access trade execution. Distribution is exclusively direct enterprise sales via dedicated relationship managers and a relationship-led GTM targeting investment fund managers (hedge funds, private equity, venture capital, real estate), SPVs, aviation finance structures, family offices, and digital asset fund managers. There is no disclosed revenue, funding history, or ownership structure beyond 'common majority ownership' across the group entities, and headcount is reported at 11–50 employees.
FundBank firmographics
Firmographics- Name
- FundBank
- Legal name
- FundBank Ltd.
- Website
- https://fundbank.com
- Company type
- Private
- Founded year
- 2023
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- FundBank is a privately held, multi-jurisdictional institutional bank (Cayman, Luxembourg, Ireland, US) serving the global asset management and alternative investment industry with operating, custody, escrow, fiduciary, and trade execution services.
- Ownership category
- akta.pro rank
FundBank industry classification
Industry- Product category
- Institutional Banking
- NAICS
- Commercial Banking (522110), Depository Credit Intermediation (5221), Funds, Trusts, and Other Financial Vehicles (525)
- SIC
- Functions Related To Depository Banking, Nec (6099)
- akta.pro primary industry
- Fund Depositary (UCITS/AIFMD & Trustee Oversight) (FSAAAOAC)
- akta.pro secondary industry
- Fund Governance Support (Board/Trustee, Minutes, Policies, Oversight) (FSAAAMAH)
Keywords
Where FundBank is headquartered
LocationHeadquarters
- HQ city
- George Town
- HQ country
- Cayman Islands
Offices5 records
Markets served
FundBank business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Banking Services Fees: Fees from providing institutional banking services to asset managers including account maintenance, transactions, wire transfers, and cash management services.
- Custody Services: Fees for custodial accounts providing asset safekeeping, transaction facilitation, and regulatory compliance for hedge funds and asset managers.
- Fiduciary Services: Trustee services for STAR Trusts, unit trusts, charitable trusts, and structured finance SPVs including corporate trustee and independent director services.
- Escrow Services: Cross-border escrow capabilities for mergers and acquisitions, asset sales, acquisition finance, IPOs, corporate restructuring, and private equity capital raising.
- Prime Access Trading: Trading execution services through partnership with Interactive Brokers for institutional clients to trade across 150+ markets in 33 countries.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels5 records
FundBank product offering
Product offeringCore offering
FundBank is a banking platform offering the alternative investment industry banking and custodial solutions. It provides institutional-grade services including subscription and redemption accounts, operating accounts, custodial accounts, escrow services, fiduciary services, and executing brokerage to hedge funds, private equity, real estate, aviation, venture, and digital asset fund structures across Cayman, Europe, and North America.
Product overview
FundBank is an institutional banking platform serving the global asset management industry, offering a comprehensive suite of banking solutions across multiple jurisdictions (Cayman Islands, Europe, and North America). The platform operates through several interconnected products and services: core banking services including bank accounts (operating, subscription/redemption, escrow, custodial), custody and trade execution, and fiduciary services; a proprietary KYC Manager SaaS platform for client onboarding and compliance management; the Sphere client portal for digital account management; Prime Access trading platform in partnership with Interactive Brokers for execution services; and FundBuilder (with Hatcher+) for AI-powered instant fund structure creation and IBAN generation. The company operates through regional entities including FundBank Ltd. (Cayman Islands, regulated by CIMA), FundBank (Europe) S.A. (Luxembourg, ECB-authorized credit institution supervised by CSSF), and FundBank N.A. (U.S. national bank regulated by OCC). FundBank also provides specialized services for hedge funds, private equity, digital assets, and institutional investors with a focus on safety, liquidity, and speed.
Differentiator
Problem solved
Functional benefit
Brands
- Sphere: FundBank Client Portal providing digital banking access, account management, and transaction capabilities.
- FAAST IBAN
- Prime Access
- KYC Manager
Products and services
- Subscription and Redemption Accounts
- Operating Accounts
- Cayman Custodial Accounts
- Escrow Services
- Fiduciary Services
- Cayman Hedge Fund Banking Solutions
- European Bank Accounts
- European Custody Solutions
- North America Bank Accounts and Trust
- Cash Management Services
- Paying Agents
- Cayman Corporate Services
- Executing Broker
- KYC Manager
- Prime Access
- FundBuilder
- Client Portal (Sphere)
- FAAST IBAN Service
- Banking Solutions for Fund Administration
Quantifiable outcome
- Account opening in 10 business days or less upon receipt of AML/KYC documentation
- +2 more outcomes
Companies that use FundBank
Customer profileNamed customers6 records
Segments5 records
Ideal customer profiles4 records
FundBank technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
Feature5 records
FundBank partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core.
- BNYcoreFundBank collaborates with BNY to deliver institutional liquidity solutions combining FundBank's fund-centric banking and payment infrastructure with BNY's LiquidityDirect platform providing cash and liquidity management capabilities for the alternative investment ecosystem.
- Trrue ChaincoreFundBank acquired Trrue Chain, an Irish Layer-1 blockchain startup, for €10 million. Trrue Chain operates as a blockchain infrastructure provider holding a VASP license and pending CASP approval under MiCA regulation. The acquisition accelerates institutional capital transfer infrastructure and combines FundBank's traditional banking with Trrue's blockchain capabilities for funds and asset managers.
- Fund RecscoreFundBank partnered with Fund Recs to implement Fusion, an advanced data transformation platform. Fund Recs translates complex workflows into simple actions to help manage, move, and reconcile fund data at scale. The platform is delivered as a fully hosted SaaS solution providing ETL capabilities to FundBank's clients.
- 6 Monks (6M)core6 Monks, a Luxembourg-based AIFM specializing in digital asset and private equity fund management, partnered with FundBank (Europe) S.A. to streamline fund management, banking, and distribution for institutional investors seeking exposure to blockchain-based assets and tokenized securities. The partnership integrates FundBank's institutional-grade banking infrastructure with 6 Monks' fund management services.
- Hatcher+coreHatcher+, an AI-powered technology marketplace for asset managers, partnered with FundBank to launch FundBuilder - an online service enabling instant creation of fund structures, fast investor onboarding, and swift generation of Luxembourg IBANs. The platform combines AI-powered legaltech with FundBank's technology-enabled IBAN services.
- Interactive BrokerscoreFundBank partnered with Interactive Brokers (NASDAQ: IBKR) to offer Prime Access - a seamless, next-generation trading experience designed exclusively for the asset management industry. Clients access powerful trading technology across 150+ markets in 33 countries with pre-trade compliance, market-risk insights, and cost-efficient trading through IBKR BestX.
Scale indicators3 records
Recent moves10 records
Expansion highlights6 records
FundBank competitors and assessment
Company assessmentDirect peers
- Maples Group: Cayman-headquartered specialist in fund services, fiduciary, and corporate services to alternative investment funds. Closely comparable to FundBank in geography (Cayman roots), client base (hedge funds, PE, SPVs), and service mix (trustee, fiduciary, banking-adjacent).
- Northern Trust: Global custodian and alternative asset servicer with significant Luxembourg, Cayman, and US operations serving hedge funds, PE, and other alternatives. Comparable offering set (custody, banking, fund administration) and similar fund-industry specialization, but at much larger scale; FundBank's Europe CEO spent nearly 20 years there.
- Brown Brothers Harriman (BBH): Privately-held custody and fund services specialist focused on alternative asset managers, with comparable fund-centric positioning. BBH's mutual ownership model and alternative fund servicing franchise mirror FundBank's independent, niche orientation.
- Pictet Group: Swiss private bank and asset servicer with strong European fund services franchise and a private partnership structure. Comparable in serving European fund structures with custody, banking, and trustee-adjacent services to alternatives.
Broad incumbents
- State Street: One of the largest global custodians with a substantial alternatives servicing business across all major fund domiciles. Overlaps significantly with FundBank's custody and banking-for-funds proposition, but operates at vastly greater scale and across a broader asset class universe beyond alternatives.
- BNY Mellon: Largest global custody bank with extensive fund services, Pershing, and LiquidityDirect offerings (the latter is now a FundBank partner). Functionally comparable on custody, banking, and liquidity management for alternative funds, but as part of a much broader services franchise and balance sheet.
- JPMorgan Chase (Alternative Fund Services): Global custody and fund services franchise serving alternatives via the Corporate & Investment Bank. Competes head-on with FundBank for the same fund-manager clients, but as part of a multi-product banking and markets platform.
- Citi (Citi Fund Services): Major global custodian and fund services provider with deep alternative fund relationships. Comparable offering (custody, fund admin, banking) but embedded within a global universal bank rather than purpose-built for funds.
Emerging players
- Circle Internet Group: Digital-asset financial infrastructure firm offering fiat/crypto treasury and payment services to funds and institutions. Comparable to FundBank's emerging digital-asset banking offerings (e.g., via Trrue Chain and Komainu), but with a sharper crypto-native focus and weaker traditional banking breadth.
- Anchorage Digital: US-chartered digital asset bank serving institutional crypto fund and treasury clients. Comparable to FundBank's regulated-digital-asset play and competitors for institutional crypto-banking mandates, but limited to digital assets versus FundBank's full banking stack.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
FundBank social profiles
Digital presenceFundBank compliance and trust
Trust signalCompliance7 records
FundBank financial estimates
Financial estimateRevenue estimate
Valuation estimate
FundBank leadership team
Management profileNumber of profiles
Profiles13 records
FundBank subsidiaries and ownership
Company hierarchySubsidiaries1 record
FundBank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
FundBank M&A and investment
M&A and investmentM&A2 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about FundBank
What does FundBank do?
FundBank is a banking platform offering the alternative investment industry banking and custodial solutions. It provides institutional-grade services including subscription and redemption accounts, operating accounts, custodial accounts, escrow services, fiduciary services, and executing brokerage to hedge funds, private equity, real estate, aviation, venture, and digital asset fund structures across Cayman, Europe, and North America.
Is FundBank a public or private company?
FundBank is a private company. It is classified as unknown and is currently operating.
When was FundBank founded?
FundBank was founded in 2023. It employs 11 to 50 people.
Where is FundBank based?
FundBank is headquartered in George Town, Cayman Islands.
How does FundBank make money?
Five revenue lines are on record. Banking Services Fees are the primary driver. The others are custody Services, fiduciary Services, escrow Services and prime Access Trading.
Who are FundBank's main competitors?
Direct peers on record are Maples Group, Northern Trust, Brown Brothers Harriman (BBH) and Pictet Group. Broad incumbents are State Street, BNY Mellon, JPMorgan Chase (Alternative Fund Services) and Citi (Citi Fund Services). Emerging players are Circle Internet Group and Anchorage Digital.
Does FundBank have an API?
No public API is recorded for FundBank.
What industry is FundBank in?
FundBank's product category is Institutional Banking. Its primary akta.pro industry code is FSAAAOAC, Fund Depositary (UCITS/AIFMD & Trustee Oversight), with a secondary code of FSAAAMAH, Fund Governance Support (Board/Trustee, Minutes, Policies, Oversight). Its NAICS code is 522110 and its SIC code is 6099.