Covercy started in 2015 as a regulated cross-border payments company — FCA-licensed, compliance in-house, moving money for businesses that couldn’t afford to get it wrong. By 2019 we noticed something in our own data: nearly two-thirds of the volume flowing through our rails was real estate investment payments. Capital calls, distributions, investor payouts. We didn’t choose this industry — our customers chose it for us. So we went to see how those firms worked, and found brilliant investors running modern funds on decade-old plumbing: waterfalls in spreadsheets, payments wired one at a time, reconciliation by hand across five systems. Everyone selling them software had built tools for tracking money. We had spent years building rails for moving it. That difference became Covercy One. Today fundraising, distributions, investor relations, banking, and fund administration run on one position ledger — every fund, every investor, every transaction — with Neo, your AI Co-GP, working across all of it.