Trumbull-based Aquilance, which provides personal financial administration services for wealthy families and their advisers, said it has received a $16 million growth investment led by Ten Coves Capital.
The company said the funding will be used to expand its bookkeeping, bill payment and multi-entity accounting capabilities and to deepen integrations with wealth management firms.
Chief Executive Officer John Carey said the company aims to modernize personal financial administration services for advisers and complex clients.
Aquilance said it was founded in 1987 and works with more than 300 high-net-worth and ultra-high-net-worth families nationwide.
Ten Coves Capital, which has offices in Darien and New York City, invests in financial technology and software companies.
