Trade data platform Saphyre nabs $18.7m in Series A

Saphyre, which offers a service to structure all pre-trade data, has scored $18.7m for its Series A funding round.

HCAP Partners served as the lead investor, with commitments also coming from JP Morgan and BNP Paribas.

The funding will help Saphyre accelerate its product development initiatives in its pre- and post-trade offerings. Capital will also help the company with the expansion of interoperability initiatives with several FinTech and vendor solutions.

Saphyre has built an AI-powered platform that powers direct collaboration between multiple financial parties related to the same client. Its platform digitises all pre-trade data and documents, eliminating redundant manual processes and allowing for secure, expedited access to data across the lifecycle.

Since it launched in 2017, Saphyre has received 104 issued patents and has integrated with seven different platforms.

HCAP Partners managing partner Tim Bubnack said, “Saphyre has developed an industry leading software platform that organizes unstructured data and documents and automates activities in the end-to-end trade life cycle; from pre-trade, through trading, and post-trade.

“In addition, management has created a workplace culture grounded in values that align well with HCAP and our Gainful Jobs Approach.  We are pleased to partner with the Saphyre team and its strategic partners in the next stage of the company’s growth.”

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