FLX Networks, a Bernardsville, NJ-based technology platform for engagement between asset and wealth management firms, raised $10M in funding.
The round was led by Barings, with participation from Allianz Life Ventures and Broadridge Financial Solutions (NYSE: BR).
The company intends to use the funds to scale the technology platform and its team.
Led by Brian Moran, FLX founder and CEO, FLX Networks is focused on engagement for asset and wealth management firms and financial advisors. Its community members access thought leadership, investment ideas, business resources, and industry connectivity in one centralized destination, delivering productivity, savings, and growth. The company, which will celebrate its third anniversary in December, achieved over $1 billion in investment product sales, saved member asset managers more than $10 million in discretionary costs, and surpassed 1,000 in overall industry membership. To continue momentum, the new capital will be allocated to technology builds and new personnel.
