Broadstreet Impact Services, a leading provider of fund administration and operational support services to the impact investment industry, has selected FUNDINGO as its new loan servicing software.
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Broadstreet’s fund administration team currently administers more than 160 investment entities totaling over $2 billion in assets. FUNDINGO is part of Broadstreet’s infrastructure roadmap to support the evolving needs of its fund administration clients who manage a range of fund types, investment strategies, and reporting requirements. The cloud-based system supports a wide variety of loan types and provides real-time access to loan data, enabling faster service and more transparent reporting for clients.
This upgrade builds on recent enhancements to Broadstreet’s operational platform, including completion of its first SOC 1 audit in 2024 and the launch of the Entrilia platform for fund accounting and investor reporting. Together, these investments have enabled Broadstreet’s fund administration team to scale while maintaining institutional-quality compliance, reporting, and service. Over the past 18 months, Broadstreet has added more than 60 new fund administration entities.
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“Impact investing isn’t a cookie-cutter business at least not in the way Broadstreet and our clients approach it,” said Chris Rakers, Managing Director for Fund Administration. “More than off-the-shelf products and services, we’re supporting tailored solutions that help move the needle on issues like economic opportunity, affordable housing, and health. FUNDINGO helps us do that.”
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“For CDFIs and impact-driven organizations, operational inefficiencies aren’t just administrative hurdles, they directly undermine mission effectiveness and financial sustainability,” said Chandler Schmitt with FUNDINGO. “At FUNDINGO, our mission is to provide a fit for purpose tool to transform these complexities into strategic advantages. By eliminating data silos, automating critical workflows, and providing unparalleled transparency into loan portfolios, we enable our clients to significantly amplify their impact, confidently scale their operations, and achieve measurable and repeatable success.”
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Source : PRnewswire