Portfolio optimisation service provider Quantile Technologies has scored a $51m minority investment from growth equity firm Spectrum Equity.
With this capital, the FinTech hopes to accelerate its next phase of growth, which includes developing new services and expand into new markets.
Spectrum is the first institutional investor to back Quantile.
Quantile co-founder and CEO Andrew Williams said, “We are committed to providing our clients with market-leading services to allow them to continuously optimise their derivative portfolios to maximise returns and to efficiently meet regulatory capital requirements.”
Founded in 2015, the company offers a portfolio optimisation service for the global financial services market. Clients can leverage the platform to reduce counterparty risk and gross notional.
Its clients include banks, hedge funds and buy-side firms. Its advanced algorithms help clients to target and reduce certain risk characteristics, such as gross notional or initial margin requirements, without changing the overall risk profile or valuation of the portfolio.
Spectrum Equity principal Parag Khandelwal said, “Quantile is at the forefront of risk optimisation for derivative portfolios, enabling clients to not only rebalance and reduce risk, but also increase their competitiveness and operating efficiency. They are making the financial system safer, and we look forward to supporting Quantile’s mission-driven and product-led growth.”
As part of the investment, Spectrum Equity managing director Mike Farrell has joined the Quantile board of directors.
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