Landytech, a Franco-British fintech and the developer of the Sesame investment reporting platform, raised $12 million in Series B funding in February 2023. The round was led by Aquiline Technology Growth, a US fund specializing in financial services, with participation from Adelie Capital. Founded by Benjamin Moute (CEO), the company, based in London and Levallois-Perret, will use the funds to accelerate product development and expand its client base across Europe.
Sesame: a tool designed for complex portfolios
Landytech's Sesame platform consolidates investment portfolio data from multiple custodian banks, fund managers, and asset classes in a single place. It primarily serves three segments: family offices, asset managers, and trustees. These clients typically manage complex, multi-asset-class allocations (equities, bonds, private equity, real estate, hedge funds) across multiple jurisdictions, which makes consolidated reporting particularly laborious with traditional tools.
Sesame automates data aggregation, applies an analysis layer (performance, attribution, risk), and generates reports tailored to each client's requirements. The promise: cutting the time spent producing monthly or quarterly investment reports from several person-days to just a few hours.
A wealthtech market in transformation
The family office segment, Landytech's primary target, is growing steadily. According to the UBS Global Family Office Report 2023, the number of single-family offices worldwide exceeds 8,000, with assets under management estimated at around $6 trillion. This segment is professionalizing rapidly: the younger generations taking over expect reporting standards comparable to those of institutional asset managers.
The wealthtech market, which covers software solutions for asset and wealth management, is estimated by Deloitte at around €60 billion in Europe, with a compound annual growth rate of between 12% and 15%. The market is highly fragmented: no player holds more than 5% market share, leaving room for vertical challengers like Landytech.
Competitors and positioning
- Addepar: the US leader in wealth reporting, valued at $2.2 billion in 2021.
- Masttro: a Swiss solution focused on ultra-high-net-worth individuals (UHNWI).
- Asset Vantage: a global player with a presence in India, Singapore and the United States.
- Kidbrooke / Wealth Dynamix: European alternatives focused on CRM and financial planning.
Landytech's positioning stands out for its European roots and its focus on multi-jurisdiction portfolios, a challenge specific to European family offices often spread across several tax entities (UK, Switzerland, Luxembourg, France). The company claims around one hundred institutional clients.
Aquiline Technology Growth: a sector-focused investor
The choice of Aquiline Technology Growth as lead investor is no accident. Based in New York, the fund is the technology arm of Aquiline Capital Partners, one of the world's leading private equity specialists in financial services. Aquiline manages over $9 billion in assets and has invested in several European fintechs (Wrike, Insurance Quotes, Curve). Its thesis is to back B2B financial companies with long sales cycles and strong barriers to entry (compliance, banking integrations).
A compact but targeted Series B
The $12M figure may seem modest for a Series B, but it reflects the profile of a company that prioritizes controlled growth over scaling at all costs. Landytech operates in a high-end B2B market, where average deal sizes are measured in tens of thousands of euros per year and retention often exceeds 95%. This recurring-revenue engine makes it possible to stick to a growth plan without a massive fundraise.
The company has announced plans to allocate the round to three priorities: expanding Sesame's feature set (particularly around alternative assets), entering new European markets (Germany, Switzerland, Italy), and strengthening its engineering teams in London and Levallois-Perret.
Outlook 2024-2026
The wealthtech sector is entering a consolidation phase. Acquisitions are multiplying (FactSet acquired Truvalue Labs, BlackRock has stepped up its investment in Aladdin Wealth), and family offices are looking for open platforms capable of integrating third-party solutions (alternative data, ESG, AI insights). For Landytech, the challenge is to hold its technological ground against better-capitalized competitors while preserving its position as a European specialist.
Artificial intelligence represents a key opportunity: automatic data extraction from heterogeneous bank statements, intelligent transaction classification, and performance commentary generation. Companies able to industrialize these use cases will gain a decisive competitive advantage. The practice of AI automation offers an informed perspective on these productivity topics.
Takeaways for the French ecosystem
Landytech illustrates a category of French B2B fintechs that succeed by establishing themselves in narrow but high-margin verticals. The Franco-British pairing gives the company simultaneous access to the Paris and London ecosystems, two complementary financial centers. For SaaS founders, the case shows that a product strategy focused on a single segment (family offices) rather than rapid horizontal expansion can lead to later funding rounds but more solid trajectories.
FAQ
How much did Landytech raise in its Series B?
Landytech raised $12 million in Series B funding in February 2023, in a round led by Aquiline Technology Growth with participation from Adelie Capital.
What does Landytech do?
Landytech develops Sesame, an investment reporting platform that consolidates portfolio data for family offices, asset managers, and fiduciaries.
Who leads Landytech?
Landytech was founded and is led by Benjamin Moute, CEO. The company is based in London and Levallois-Perret.
Who are Landytech's competitors?
Sesame competes with platforms such as Addepar (United States), Masttro (Switzerland), and Asset Vantage. Landytech's European, multi-jurisdictional positioning sets it apart for international family offices.
How big is the wealthtech market?
Deloitte estimates the European wealthtech market at around €60 billion, with a compound annual growth rate of 12 to 15%. The family office segment alone accounts for roughly $6 trillion in assets under management worldwide.