CloudMargin, a provider of collateral and margin management tools, has collected $15m in its Series B round.
The investment was backed by Deutsche Börse, Deutsche Bank, Citi and a number of unnamed Tier-1 global investment banks.
Having closed the round, the company plans to further its product creation, enhance technological capabilities and expand its sales across the US and Asia.
The London-based company offers a cloud-based collateral management workflow tool that helps brokerage firms, banks, asset management firms, pension funds and insurance companies. Its technology centralises, automates, connects and optimises collateral management.
Clients can use the platform to support pre-trade analytics, trade systems, calculate IM and VM exposure, collateral messaging, disputes, settlement and reporting. Through this, businesses can reduce workflows and maintain compliance.
CloudMargin CEO Stuart Connolly said: “During this unprecedented period of global turmoil and market volatility, it speaks volumes for the CloudMargin business model, achievements and strategy that we were able to successfully close this meaningful investment round with such high calibre partners as Deutsche Bank, Deutsche Börse and Citi.
“For financial services institutions, the impact of COVID-19 has further reinforced our value proposition by highlighting many challenges the industry has faced for a prolonged period and acting as a catalyst to drive transformational change; firms are placing a strategic priority on adopting modern, Software-as-a-Service based cloud technologies that provide agility as well as operational and cost efficiencies.”
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