Fintech company Saphyre has completed a Series A funding round of US $18.7 million which will be used to accelerate Saphyre’s product development initiatives in its pre- and post-trade solutions.
The funding, which was led by HCAP Partners, will also support Saphyre ongoing expansion of interoperability initiatives with other fintechs and vendor solutions.
Global banks J.P. Morgan and BNP Paribas also participated in Saphyre’s Series A funding round.
Saphyre’s artificial intelligence-powered platform enables direct collaboration between multiple financial parties related to the same client.
The platform digitises all pre-trade data and documents, eliminating redundant manual processes and allowing for secure access to data throughout the trade lifecycle.
Established in 2017, Saphyre has since received 104 issued patents and has been integrated with seven different platforms as part of its interoperability design.
Gabino Roche, CEO and founder of Saphyre, says: “It is an honour to be strategically supported by HCAP, J.P. Morgan and BNP Paribas. This funding will accelerate the rollout of our firm’s offerings and ability to further prove that, in leveraging Saphyre’s patented technology in pre-trade wins, you instantly gain post-trade competitive advantages as well as operational benefits.”
Naveen TV, managing director of J.P. Morgan’s securities services, comments: “J.P. Morgan was an early adopter of Saphyre and we are delighted to continue supporting them on their journey to create a market-leading onboarding workflow.”
