Financial services software company T-REX has raised $10m in its Series B round led by Safeguard Scientifics.
Investment also came from existing backer Ecosystem Integrity Fund.
The New York-based company’s SaaS platform offers analytics, risk and portfolio features to provide standardisation and transparency to the complex structured products evaluation process.
It claims this helps to increase liquidity and create more investment opportunities across non-commoditised asset classes.
Company CEO and founder Benjamin Cohen said, “In 2016, we have attained more than 150 end users and established influential industry partnerships, including Morningstar Credit Ratings and Renovate America.”
“In addition, we have achieved key product milestones and developed a repeatable go-to market strategy that has already helped facilitate hundreds of millions of dollars of new capital for our clients.”
Safeguard managing director Tina Aufiero will join the company’s board as a result of the deal.
She said, “With Safeguard’s refined focus on deploying capital in technology-enabled businesses, particularly within financial services, we recognise the opportunity to close the gap for financial markets infrastructure and SaaS-based analytics in a rapidly-evolving structured products landscape.”
T-REX will use the capital to expand its product capabilities and scale its development team.
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