bunch

Berlin, 2020. European private markets — venture capital, private equity, infrastructure funds — were still managing billions of euros through spreadsheets, email chains, and manual processes. bunch was founded on a simple but powerful thesis: fund operations infrastructure is an unsolved software problem, and the window to build the definitive vertical solution is open. The platform covers the entire operational cycle of a fund: LP onboarding, automated capital calls, waterfall calculations, LP reporting, NAV tracking, and integrated accounting. Rather than forcing fund operations teams to reconcile data across multiple disconnected systems — CRM, spreadsheets, LP portals, accounting systems — bunch unifies everything in a single platform designed specifically for the structural complexity of European alternative funds. The market proved larger than expected. At the time of the Series B, bunch counted over 150 active fund managers and more than 12,000 LPs on the platform. ARR grew 300% in 2025 with a Net Revenue Retention of 156% — a signal that customers are not only renewing but expanding usage as the platform becomes critical infrastructure. The €30.1 million round — led by Portage with participation from Illuminate Financial, Motive Partners, Cherry Ventures, and Fintech Collective — is designed to accelerate expansion into new European markets and broaden the product offering towards adjacent segments such as institutional fund accounting.