bunch, a Berlin-based FinTech startup offering end-to-end infrastructure for European private markets, has closed its €30.1 million ($35 million) Series B to accelerate European commercial growth, deepen its automation and AI, and expand the platform into new geographies, asset classes, and workflows.
The round was led by Portage, with participation from Illuminate Financial, significant follow-on investment from existing investors Motive Partners, Cherry Ventures, and Fintech Collective and additional angel investors. With this round, bunch has raised over $58 million in total.
Enrico Ohnemüller, co-founder & CEO, bunch, said, “Private markets are entering a new phase of growth, but the operating infrastructure behind them has not kept pace. GPs cannot scale on spreadsheet-era infrastructure.
“We built bunch to give fund managers one platform across the fund lifecycle, designed for the complexity of operating across multiple European jurisdictions. While private markets will remain a people-driven, service-intensive industry, the right combination of specialist expertise, software and AI-native systems make fund operations more efficient, consistent and scalable. This funding allows us to deepen that model and continue modernising private markets infrastructure.”
Founded in 2021 by Levent Altunel and Enrico Ohnemüller, bunch claims to be building the backbone of private markets. It operates across Europe, enabling fund managers and institutional investors to manage the entire fund lifecycle, from digital investor onboarding and capital calls to fund administration, fund accounting, and tax reporting.
According to the company, the investment lands as private markets enter a new phase of growth – and operational pressure. It states that with AUM forecast to reach $32 trillion by 2030, and structures such as ELTIF 2.0 set to broaden private wealth access to alternatives, fund managers are being asked to serve more investors, deliver more reporting and manage greater complexity. However, the systems supporting these processes have not kept up, with key workflows still primarily managed via spreadsheets, emails, and manual methods.
bunch aims to disrupt legacy fund operations by giving PE and VC fund managers one integrated, digital operating layer across the fund lifecycle. Built in Europe for complex, multi-jurisdictional private markets operations, the platform combines specialist expertise, proprietary software and AI-native infrastructure to help managers scale across jurisdictions, entities, investor groups and regulatory requirements.
The company states that its platform can process unstructured fund documentation, extract and organise essential data, and maintain traceability to source documents. It also ensures human oversight in key workflows, thereby reducing manual tasks while preserving auditability and control.
bunch reports that it now supports over 150 fund managers and over 12,000 LPs across major European jurisdictions. As customers increasingly utilise the platform for live operational workloads, the company’s ARR expanded by 300% in 2025, with a net revenue retention of 156%.
Based in Berlin, London, Amsterdam and Luxembourg, bunch already works with a growing base of private markets firms, including FINVIA Family Office, Passion Capital, Hummingbird VC, Merantix, Tiny Supercomputer and Antler.
“Portage invests in financial infrastructure that becomes structurally necessary as markets grow. bunch has built exactly that. Europe’s regulatory environment is uniquely demanding; that headwind only intensifies as private markets scale. Enrico and Levent didn’t build around this complexity, they built from within it. That combination of regulatory depth and service understanding is what makes bunch structurally defensible, and hard to replicate from the outside,” said Helene Falchier, Partner, Portage.
The company plans to deploy the new funding for commercial expansion. It aims to accelerate its go-to-market strategy and grow its customer base of private equity managers in key European markets, including Germany, the UK and Luxembourg.
The German startup also plans to use this capital for product and technology development, focusing on enhancing automation and AI-driven workflows across core fund operations such as capital calls, compliance, distributions and reporting.
bunch will also use this funding to build a scalable operating model capable of supporting a broader range of fund operations across additional asset classes and jurisdictions.
