Index strategy and regulatory service provider Moorgate Benchmarks has completed its Series A funding round, securing significant investment from ETFS Capital.
The capital raised will enable Moorgate Benchmarks to expand its offerings to capitalise on a range of new opportunities.
The company was founded in 2018 by Gareth Parker and Tobias Sproehnle. Parker, chief indexing officer, was one of the four founding staff of FTSE and has also held roles at S&P, Russell Indexes and IPD.
Sproehnle, chief executive officer, was formerly CEO of Thomson Reuters Benchmarks which was one of the first registered benchmark administrators in the world.
FCA registers Moorgate Benchmarks as benchmark administrators
Moorgate Benchmarks offers its expertise on managing and calculating indices for clients, streamlining operations and implementing governance systems to meet EU Benchmarks Regulation.
Sproehnle and Parker commented: "The indexing industry is in urgent need of transformation since the dominant index providers currently offer investors limited choice and are inflexible.
"Moorgate Benchmarks is solving this problem by offering index providers and product issuers the services they need to innovate and deliver true choice to all investors."
Graham Tuckwell, chairman of ETFS Capital, added: "We believe in Moorgate Benchmarks' vision and our investment will help accelerate its delivery. Ultimately, we see this partnership for the longer term, as achieving this vision is a marathon, not a sprint."