Derivative Path, a capital markets FinTech platform, has secured $35m in a growth equity funding, which was supplied by FTV Capital.
This investment marks the first outside institutional round for Derivative Path and will put used to expand its product offerings. Additionally, capital will be used to accelerate its growth with financial institutions, end-users and buy-side clients.
Derivative Path, which was launched in 2013, is a cloud-based trading technology solution. Its flagship product is DerivativeEDGE, a derivative trading platform which facilitates interest rate and FX hedge activity management.
Its platform was built as a complete end-to-end solution, with users having front, middle and back-office functionality from a single platform.
The DerivativeEDGE service is used by more than 130 banks and institutional clients and includes automated Dodd-Frank compliance, integrated real-time market data, automated swap data reporting and cleared trade affirmation.
FTV Capital partner Robert Anderson said, “Financial institutions and corporates continue to increase their adoption of interest rate and FX derivatives to more effectively manage balance sheet and operational risks.
“Through a unique combination of expertise, technology and service, the seasoned team at Derivative Path continues to democratize the usage of derivatives for operational use cases, such as back-to-back lending, balance sheet hedging, supply-chain FX exposure, and more.”
In conjunction with the investment, Robert Anderson will join Derivative Path’s board of directors. FTV Capital vice president Brent Fierro will also join the board.
Earlier in the year, FTV Capital reportedly made a £78m investment into UK-based pet insurance company Bought By Many.
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