CloudMargin, a cloud-based collateral management workflow tool, has closed a $10m investment round.
New investors in the round include LVC, the venture investing arm of Leucadia National Corporation and IHS Markit, a provider of critical information, analytics and solutions. Existing investors, including Illuminate Financial Management, also participated in the round.
Along with the funding, CloudMargin said it has significantly expanded the scope of its commercial alliance with IHS Markit, which was announced last June. It will enhance the ability of IHS Markit to provide a more seamless and comprehensive suite of collateral management services to its customers.
CloudMargin CEO Steve Husk said, “This investment allows CloudMargin to continue to provide unique value in the marketplace and capitalize on the significant demand from sell-side and buy-side capital markets participants for our solution.
“As CloudMargin remains the only native cloud-based offering in the space, we are ever-focused on improving the platform continuously while leveraging its accessibility, pricing flexibility and community that can be harnessed only with cloud technology.”
Headquartered in London, CloudMargin’s Software-as-a-Service (SaaS) model helps leading financial institutions globally, including exchanges, brokerage firms, banks, asset management firms and insurance companies, to meet time-critical regulatory deadlines and reduce costs associated with collateral requirements.
It claims to also have an ‘ever-expanding range’ of outbound reporting options to support regulatory and compliance needs.
The business has more than doubled its client base over the past 12 months, adding global and regional asset managers, sell-side and regional banks, hedge funds and insurance brokers in Europe, the US and Asia Pacific
LVC is the venture investing arm of Leucadia National Corporation, a diversified holding company that invests in a broad array of businesses. Leucadia’s financial services businesses and investments include investment banking and capital markets (Jefferies Group), asset management (Leucadia Asset Management), online provider of foreign exchange trading services (FXCM), commercial mortgage banking, investment sales and servicing (Berkadia), and vehicle finance (Foursight Capital).
Earlier this year, FeedStock partnered with IHS Markit to deliver integrated MiFID II investment research analytics, evaluation, payments and inducement management solutions. The collaboration claims to help reduce the ‘bureaucratic burden of compliance’ by automating many of the processes currently being done manually at the expense of productivity and at risk of being inaccurate, inconsistent and costly.
Partners Group, the €62bn global private markets investment manager, also recently selected IHS Markit’s thinkFolio as its cross-asset order management and portfolio modelling system.
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