TP ICAP has invested in real-time data sharing and workflow platform ipushpull as part of a Series A funding round.
The investment is the first institutional funding received by ipushpull and will see TP ICAP take a minority stake in the business.
The ipushpull platform claims to help improve decision making, efficiency, data connectivity and user experience for customers across financial markets by enabling financial institutions and data-driven companies to share live pricing and trade data. This is then delivered to a customer’s preferred application as needed.
It is used by clients including NatWest Markets, BNP Paribas, Insight Investment, Trayport and ETD.
Since 2018, TP ICAP has been a user of ipushpull’s services, and this investment will result in a closer integration of ipushpull’s technology in TP ICAP’s Fusion Connect offering to enhance TP ICAP’s client experience.
“Data is a kingmaker in modern markets. Having fully integrated, efficient data workflows is essential to the success of banks, brokers, asset managers and data providers,” said Matthew Cheung, chief executive of ipushpull.
“We are therefore delighted to have received our first institutional investment from long-term partner, TP ICAP, marking an exciting new chapter for ipushpull – deepening our relationship with the firm and giving our business a platform to accelerate growth.”
Following the deal, TP ICAP’s group chief investment officer Dan Wray will join the board of ipushpull.
“I’m delighted to conclude this investment as we continue our journey to offer best-in-class services to clients through our Fusion platform,” added Wray.
“We see strong demand for the ipushpull product in the very near future, and I’m happy to join the board to help them on that journey.”