Saphyre, a US-based fintech that develops AI-powered software to automate finance operations and trading workflows, has received a $70 million growth equity investment from VC firm FTV Capital.
Founded in 2017, Saphyre’s software platform includes solutions for broker trading account management, securities funding management, and legal agreement administration. The company’s current client list includes 75 financial institutions, with JP Morgan, BNY, and BlackRock among its notable customers.
The cash injection builds on the fintech’s Series A funding round of $18.7 million led by HCAP Partners in 2022.
The New Jersey-headquartered company plans to use its latest funds to enhance its market presence in pre- and post-trade services, expand internationally, and accelerate product development.
The investment agreement will also see FTV Capital partner Mike Cichowski join Saphyre’s board.
FTV Capital has expanded its financial technology portfolio this year, backing UK-based Validus Risk Management with a $45 million growth equity investment in February and recently investing in Compliance-as-a-Service provider FundApps.
Source: https://www.fintechfutures.com/
