Lux secures funding for SaaS platform 08 December 2017New York Reporter: Jenna Lomax
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Lux Technology and Services (Lux FTS) has acquired a $6 million investment from Credit Suisse asset management's Next Investors to fund its Series A financing platform, Transcend.
Transcend is Lux’s software-as-a-service solution for front-to-back office automation.
The platform will manage the integration of data sources, that supports analytical reporting allowing users to access exposure, performance and risk data in a smaller time frame.
Nik Takmopoulos, CEO and founding partner of Lux FTS, said: “Transcend offers hedge fund CFOs, COOs, and CTOs an easy-to-use extensible technology platform that deploys business intelligence to perform functions across research, portfolio management, accounting, operations, and investor relations.”
Mark Christine, CTO and founding partner at Lux FTS, commented: “As hedge funds grow, they typically reach inflexion points where their software needs require faster systems that allow for deeper dives.”
“Transcend takes the manual processes across a hedge fund and puts them into a platform that is more robust, and less error-prone. Managers can focus on the business of investment using our enhanced data and reporting.”
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