Quartile banked €27.6M ($30M) in a Seed round led by Z4ca. Y Combinator also participated in the transaction, which follows an earlier €4.6M ($5M) injection the company secured in April 2024. The Luxembourg-based firm was part of the YC W24 cohort.
The company provides a financial software infrastructure platform specifically designed for the private equity market. Its technology automates workflows for fund managers, focusing on digitising back-office operations and reporting. The product aims to replace manual data entry and spreadsheet-heavy processes common in the management of private alternative assets.
Quartile was founded by Antony Bevacqua and Marc Devaud in 2023. Bevacqua previously served as a managing director at TMF Group and held roles at Credit Suisse, while Devaud has a background in software engineering at Cisco. The founders established the company to address systemic inefficiencies in the Luxembourg financial hub, which serves as a global centre for investment fund administration.
The sizeable Seed round reflects a growing appetite among investors for vertical fintech solutions that target complex, high-value sectors like alternative asset management, where legacy systems still dominate.
Originally reported by Sifted.