Calastone gets $18 million helping hand 12 September 2013London Reporter: Georgina Lavers
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An $18 million round of investment led by Accel Partners will be used to accelerate the growth of Calastone, a cross-border transaction network.
Alongside participation from existing investor Octopus Investments, the investment will be used to accelerate the company’s global growth strategy, with a focus on Asia Pacific and Europe, in addition to expanding its product range.
Calastone was launched in 2007 with the primary objective of significantly reducing the cost and risks associated with mutual fund transaction processing. Its approach to introducing interoperability for the industry has been to build out a global network, complemented by a wide and growing range of innovative products, supported by exemplary client service.
Julien Hammerson, chairman and CEO of Calastone, said: “Calastone has been in an expeditious growth phase since inception, and now we are accelerating that evolution.
“Building on the support we have had from Octopus and our other early investors, this latest fundraising, in partnership with Accel, will enable Calastone to further deliver against its ambitions and truly compete in the global arena.”
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