Saphyre Completes Series A Funding Round to Accelerate Pre-Trade and Post-Trade Product Development
Fintech company Saphyre has completed an US$18.7 million Series A funding round that 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’s continued expansion of interoperability initiatives with other fintechs and vendor solutions.
Global banks JP Morgan and BNP Paribas also participated in Saphyre’s Series A funding round.
Saphyre’s AI-powered platform enables direct collaboration between multiple financial parties tied to the same client.
The platform digitizes all pre-trade data and documents, eliminating redundant manual processes and enabling secure access to data throughout the trade lifecycle.
Founded in 2017, Saphyre has since received 104 granted patents and has been integrated with seven different platforms as part of its interoperability design.
Gabino Roche, CEO and Founder of Saphyre, said: “It is an honor to be strategically supported by HCAP, JP Morgan and BNP Paribas. This funding will accelerate the deployment of our company’s offerings and its ability to further prove that by leveraging Saphyre’s patented technology in pre-trade gains, you instantly gain post-trade competitive advantages as well as operational advantages. .
Naveen TV, Managing Director of Securities Services at JP Morgan, comments: “JP Morgan was an early adopter of Saphyre and we are excited to continue to support them on their journey to creating a leading onboarding workflow on the market.