Tel Aviv-based TradAir, a provider of institutional trading solutions, has just announced the completion of its $11m Series D round, pushing the total capital invested in the company to $29.9m.
Launched in 2010, the scaleup specializing in foreign exchange and digital assets solutions welcomed new investors to the round, including lead investor GF Investments, the acquisitions and development company, and Harvey Golub, who has served as both chairman and CEO of American Express. As part of the raise, the new investors will join TradAir’s board of directors.
They were joined by existing investors Existing investors Long Ridge Equity Partners, the private investment company, and Viola Ventures, the venture capital firm, also joined the round.
The investment comes after a year where TradAir has seen a 45 per cent revenue growth, the launch of several new products and increasing measures of customer satisfaction. But according to Ayal Jedeikin, CEO and Co-Founder of TradAir, this new investment will take the Israeli business even further. “With this latest round of funding, we see a direct path toward global expansion,” he said.
And according to Jedeikin, this is something regional banks and brokerages all over the globe need as they “continue to pay inefficiently high trading costs because they do not have the in-house capabilities to build a full-suite of trading software or the budgets to work with legacy software vendors.”
The news about the raise comes just months after Accel, the global venture capital firm, announced that it had raised a $575m fund to invest in Israeli and European startups. The announcement was made in May 2019. It brought the European funds managed by Accel over the $3bn mark.
Copyright © FinTech Global 2019
