Symphony bags $63m from banks at $1bn-plus valuation


Messaging and collaboration platform for finance professionals Symphony has scooped up $63m in a new funding round that values it at more than $1bn.

The round was led by BNP Paribas with participation from the majority of its existing backers including Google and a consortium of 14 of the world’s largest banks.

Dubbed the ‘Slack-for-finance’ Symphony’s platform provides enterprise customers with workflow, collaboration and communication tools focused on compliance and security as well as efficiency.

The new round brings the firm’s total funding to almost $230m and will be used to accelerate its expansion in its current markets and enter new regions. It will also be used to further build out its range of features.

Symphony is head quartered in Palo Alto with offices in New York, Hong Kong, Singapore and London.

CEO and founder David Gurlé commented: “We are thrilled to have the support of our new and existing investors as we accelerate global platform adoption.

“This financing is a recognition of the value our customers have experienced as the Symphony community has grown.

“Our customers’ desire to make Symphony their central platform and replace legacy tools is an endorsement of the efficiencies brought by an integrated collaboration platform and streamlined workflow.”

BNP Paridas’ executive head of global markets Olivier Osty explained: “Digital transformation is central to BNP Paribas Global Markets’ strategy and collaboration with FinTechs is a crucial part of that process.

“Forming agile partnerships with exciting and innovative companies like Symphony helps us deliver an exceptional service to clients, and remain their partner of choice in a changing world.”

Copyright © 2017 FINTECH GLOBAL

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