AI-backed financial software platform Saphyre has secured $70 million in equity investment from FTV Capital.
Gabino Roche
The fintech firm said the investment will enable it to accelerate go-to-market efforts in pre- and post-trade, support ongoing product development and expand its geographic reach.
“This investment marks a major milestone in Saphyre’s mission to revolutionise financial services workflows with our patented AI technology and exceptional commitment to our clients,” said Gabino Roche, chief executive and founder of Saphyre.
“FTV Capital stands out as a partner that not only understands the structural inefficiencies in this space, but also brings deep relationships across our core client base and a strong track record of scaling capital markets technology companies.”
FTV Capital is a sector-focused growth equity firm with a focus on investing in high-growth capital markets technology firms.
“Despite the rapid pace of innovation in financial services, middle-office workflows continue to rely on outdated and fragmented processes,” added Mike Cichowski, partner at FTV Capital.
“Saphyre has grown rapidly as a category leader in automating account and fund onboarding through its differentiated platform and cloud-native architecture, which enables seamless data sharing between investment managers, asset owners and the sell-side and benefits from a powerful network effect that strengthens with each new client.”
The investment marks a significant milestone for the firm, which has rapidly emerged as a key player in digitising and streamlining onboarding workflows across the investment lifecycle.
Global Custodian sat down with co-founders Gabino Roche and Stephen Roche earlier this year, to discuss their journey so far and how they are looking to transform pre- and post-trade through technology.
BNP Paribas, one of Saphyre’s early institutional partners, reaffirmed its support for the firm’s continued growth. “BNP Paribas remains a committed partner to Saphyre and supports the innovation the company is continuing to bring to the industry,” said Junaid Baig, head of strategic investments and co-head of strategy at BNP Paribas.