Calastone, the global fund transaction network, has secured an $18 million investment from Accel Partners and existing investor Octopus Investments.

The investment will be used to accelerate the company’s global growth strategy, with a focus on Asia Pacific and Europe, in addition to expanding its product range, Calastone said in a statement.

Calastone did not provide a breakdown of how much Accel and Octopus had invested.

The firm provides re-registration services to a number of platforms and fund managers, including Nova, AXA Elevate and Transact.

In other recent news, in July Calastone partnered with exchange-traded funds electronic trading platform Navesis-ETF to provide market infrastructure that will enable platforms, fund supermarkets and wrap providers to execute ETF transactions.

Platforms are now required by law to offer re-registration services to clients. Rules do not force providers to automate the service but it is “widely acknowledged” that electronic straight through processing is the preferable approach, Calastone said.