Saphyre raises $18.7M from industry giants to digitize pre-trade data

Saphyre has developed an industry-leading software platform that organizes unstructured data and documents and automates activities throughout the business lifecycle.

Saphyre has completed its $18.7 million Series A funding round, led by HCAP Partners, with JP Morgan and BNP Paribas participating in funding which aims to support product development and continued expansion of interoperability programs .

Saphyre digitizes all pre-trade data and activity across multiple counterparties: from asset owners to investment managers, from hedge funds to prime brokers, from all corporate clients to brokers and custodians.

Its solution enables companies to not only assess risk faster, but also accelerate their onboarding processes, achieve real-time trading-ready statuses per account, and eliminate 70-75% of activity. redundant or ineffective post-negotiation.

The startup relies on patented artificial intelligence technology to structure all pre-trade data while eliminating post-trade inefficiencies to enable secure and accelerated access to data throughout the trade lifecycle.

Founded in 2017, Saphyre has received 104 granted patents and has been integrated with seven different platforms as part of its interoperability design.

Having secured clients comprising thousands of accounts with over $3 trillion in assets under management, Saphyre is now committed to accelerating product development initiatives in its pre- and post-trade offerings, as well as supporting its continued expansion of interoperability initiatives with a number of the industry’s other fintech solutions/vendors.

Gabino Roche, CEO and Founder of Saphyre, said: “It is an honor to be strategically supported by HCAP, JP Morgan and BNP Paribas. Today’s announcement is a testament to years of hard work and development of a premier product suite. 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, JP Morgan Securities Services, added, “JP Morgan was an early adopter of Saphyre and we are excited to continue supporting them on their journey to create a leading onboarding workflow. on the market. We believe in driving industry change to enable better collaboration tools for our customers, our peers, and ourselves, and Saphyre’s technology helps with that. We are proud to help Saphyre strengthen its scale in the industry. »

Joe Bonnaud, Global Markets COO and Head of Engineering, said: “As the European leader in global markets, we are proud to partner with Saphyre to innovate and transform the customer experience. Technology is the cornerstone of our growth ambition and by partnering with leading fintech companies, we aim to leverage powerful and scalable collaboration solutions to benefit our clients worldwide.

Tim Bubnack, Managing Partner at HCAP Partners, said, “Saphyre has developed an industry-leading software platform that organizes unstructured data and documents and automates activities across the business lifecycle; from pre-trade, to negotiation and post-trade. Additionally, management has created a values-based work culture that aligns well with HCAP and our Gainful Jobs Approach™️. We are delighted to join the Saphyre team and its strategic partners in the next stage of growth for the company.

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