Enfusion Inc Stock Price, News & Analysis

ConnexPay, a leader in payments technology, has secured a $110 million growth equity investment led by FTV Capital. This funding will facilitate ConnexPay's expansion into new verticals and geographies, building on a remarkable 500% net revenue growth year-to-date 2022. The company, founded in 2017, serves various industries including travel and fintechs, and has doubled its active clients in the past year. With this latest round, ConnexPay’s total funding reaches $145 million. The investment will also support continued technology enhancements and the hiring of key staff for global expansion.

Enfusion, Inc. (NYSE: ENFN) will release its third quarter fiscal year 2022 financial results on November 10, 2022, after U.S. markets close. A conference call will follow at 5:00 PM ET, where management will discuss the results and provide business performance insights and financial guidance. Investors and interested parties can access the call by dialing (844) 200-6205 domestically or (929) 526-1599 internationally, with a conference ID of 826984. A live webcast will be available on the company’s Investor Relations page.

Enfusion (NYSE: ENFN) has partnered with Apex Group to enhance middle-office services for global fund administrators. This collaboration will leverage Enfusion's SaaS platform for cash and position reconciliation, trade affirmation, and more, aimed at improving operational efficiency and reducing costs for Apex's clients. Enfusion's software is now actively supporting five fund managers in the Asia-Pacific region. This partnership reflects a strategic move to expand Enfusion's reach beyond traditional markets and integrate advanced technology into Apex's offerings.

FTV Capital has been recognized for the second consecutive year on Inc.’s Founder-Friendly Investors list. This accolade highlights its effective support for entrepreneurs, following significant milestones including closing its largest fund at $2.3 billion in March 2022. Over the past twelve months, FTV reported $1.1 billion in liquidity events and deployed over $900 million. The firm has a strong portfolio of over 130 companies and utilizes a robust network to foster growth.

Enfusion has been ranked #78 on the 2022 IDC FinTech Rankings, advancing from #86 last year. This annual ranking recognizes top global financial technology providers based on revenues from the financial services sector. The report highlights Enfusion's commitment to delivering innovative, cloud-native SaaS solutions for investment management. Oleg Movchan, Interim CEO, emphasized the company's dedication to simplifying investment operations while enhancing client experiences. Global IT spending in the financial services sector is projected to reach $590 billion by 2025.

Patra Corporation has secured a $146 million growth equity investment from FTV Capital, aimed at expanding its customer reach and enhancing automation within the insurance industry. With 16 consecutive years of revenue growth, Patra addresses critical challenges in the $60 billion U.S. insurance market, including an aging workforce and rising operational costs. This funding will facilitate market expansion and technology deployment across its services, leveraging Patra's proprietary PatraOne platform. FTV's expertise in tech-enabled services will support Patra's future product offerings and customer value delivery.

Enfusion, Inc. (NYSE: ENFN) has appointed Oleg Movchan as Interim CEO, effective August 21, 2022, succeeding Thomas Kim, who resigned to focus on family. Movchan brings over 25 years of experience in investment management, having served on the Board for over a decade. The company continues to experience strong demand for its investment management software, reiterating its 2022 revenue guidance despite anticipated costs related to the CEO transition affecting Adjusted EBITDA.

Enfusion, a leader in cloud-based investment management software, reported a 38% year-over-year revenue growth, reaching $36.5 million for Q2 2022. Despite strong performance, the company posted a net loss of $(4.1) million, impacted by $7.7 million in stock-based compensation. Adjusted EBITDA was $5.4 million, with an adjusted margin of 14.9%. Notably, the Net Dollar Retention Rate improved to 121.9%. The company added 50 new clients, bringing the total to 793, and introduced Enfusion Express for smaller fund managers. Guidance for Q3 is $38-$39 million in revenue.

Enfusion, Inc. (NYSE: ENFN) has launched Enfusion Express, a SaaS order and execution management system aimed at smaller fund managers with less than $100 million in assets under management. This new product intends to address the operational needs of this underserved market segment by providing enhanced pre-trade, execution, and post-trade solutions. Cowen has partnered with Enfusion as the first distributor of this service, aiming to deliver comprehensive support to its clients, while BroadArch Capital becomes the initial client using Enfusion Express.