The UK-based fintech focused on the private asset market formerly known as Framework has changed its name to daappa.
The rebrand coincides with a new product launch and an opening of a first office in Luxembourg.
According to chairman Bertil Rouveure, who acquired the company from 3i Infotech in 2016, the changes are a result of a rapidly evolving private assets market.
The democratisation of an asset class that has traditionally been the preserve of wealthy or sophisticated investors has led to a demand for more transparency against a backdrop of downward fee pressure and more stringent oversight.
Daappa’s new products are designed to add ESG and reporting capabilities to its core accounting platform.
“Engagement with our clients and the wider industry means we know there is a clear need for the private market industry to be more open and collaborative,” said Rouveure.