HANetf, the European white-label ETF platform, has completed its second oversubscribed funding round.
The latest round of funding brings in a number of experienced investors including ThirdStream Partners and Barclays Global Investors. Some notable figures also participated such as BGI’s former CEO Blake Grossman, ETF.com founder Jim Wiandt and co-founder of Flow Traders, Roger Hodenius.
Co-founder Hector McNeil said after the platform’s first oversubscribed fundraise which took place at the end of 2017, that there is an obvious demand for new entrants in the ETF space. Following the second oversubscribed funding round, it would appear the demand is very much still there.
The newly raised capital will be used towards taking advantage of the platform’s current growth prospects. Specific areas which the company says it wants to develop include sales, distribution, product management, marketing and PR. HANetf has set an objective of adding 10-15 ETFs per annum to its platform and expects to increase staff numbers by nearly 50 per cent in 2019, to further develop its growth.
HANetf has recently undergone a rebrand and launched a new website amid the company’s development.
Nik Bienkowski, founder and co-CEO of HANetf, said in a statement: “Along with our rebrand, this is an incredible and exciting time for HANetf. We expect 2019 to be another fruitful year for the industry and with demand increasing, we fully expect more businesses to be considering a move towards ETFs and the European market.”