Hub24 Ltd (ASX: HUB) has seen its share price soar more than 16% to $4.22 in early trading today after the company announced record quarterly inflows onto its software platform.

The superannuation and financial platform software provider says it saw gross inflows of $403 million and net inflows of $331 million for the second quarter – up 78.3% over the previous year.

The company says it now has $2.4 billion of funds under administration (FUA) at the end of December 2015. Hub24 also says it launched international managed portfolios in December 2015 and has launched a white label partnership with Fortnum Financial Group, which will see $650 million of FUA transfer to Hub24 in the second half of the 2016 financial year.

Hub24 reaffirmed previous guidance to be cashflow positive on a monthly basis by March 2016.

In further good news for shareholders, the company says it is experiencing accelerating and reliable growth due to increased flows from longer-standing licencees, in addition to significant inflows from newer licensees. The number of financial advisers using Hub24’s platforms has grown from 420 at December 2014 to 556 at the end of December 2015.

The launch of international managed portfolios – which gives investors access to directly own international listed companies from more than 15 global markets across North America, Europe and Asia – should give Hub24 another lever to drive growth in funds under administration.

Late last year Hub24 announced that it had received a takeover proposal from IOOF Holdings Limited (ASX: IFL) for $2.75 per Hub24 share. IOOF withdrew its proposal after Hub24 said the offer price was inadequate – which turned out to be the correct decision, given the share price is now over $4.00.

Foolish takeaway

Last financial year, Hub24 posted a loss of around $5 million on revenues of $29 million. Given the company expects to be cashflow positive by March 2016, it doesn’t appear it will be long before the company posts its maiden profit.

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Motley Fool writer/analyst Mike King doesn't own shares in any companies mentioned. You can follow Mike on Twitter @TMFKinga

Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.