New York-headquartered Quantitative Brokers has netted a $24m strategic investment from Centana Growth Partners.
The company provides algorithms and data-driven analytics to institutional clients including asset managers, hedge funds, CTAs and banks. Quantitative aims to reduce trading costs for its users.
Founded in 2008, the company offers four algorithms targeted towards different investment styles. The algorithm Bolt looks across a range of marketing conditions, while Strobe looks to trade on schedule and capture spread. Legger is a multi-leg trading strategy and the final one, Closer, helps to trade optimally in to the close.
The platform offers transaction cost analytics and a simulator which allows users to take a ‘test drive’ before investing. Last year the company doubled its revenue and has a yearly growth of around 25 per cent.
With the capital Quantitative will look to hire more staff, with the company recently hiring a new partnership sales head and new members to its research and technology teams. With the funding, the company hopes to develop its tools to accommodate its growing customer base.
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