Finance Automation Secures $70 Million in Growth Equity Funding
Saphyre, an AI-based platform that automates finance operations and trading workflows, has secured a $70 million growth equity investment from FTV Capital. This investment marks a major milestone in Saphyre's mission to revolutionize financial services workflows.
Saphyre's proprietary, memory-driven platform digitizes pre-trade data and maintains context across fund lifecycles, allowing counterparties to be ready-to-trade in as little as 24 hours. This efficiency not only accelerates data exchange but also significantly shortens fund launch times, cutting up to 75% of redundant post-trade activities.
Mike Cichowski, partner at FTV Capital, highlighted Saphyre's growth as a category leader in automating account and fund onboarding. He praised the company's differentiated platform and cloud-native architecture, which facilitates seamless, standardized data sharing among various investment ecosystem participants, including asset owners, investment managers, hedge funds, sell-side banks, and asset servicers.
The funding will be used to accelerate go-to-market efforts, support product innovation, expand globally, and deepen integration across the financial services ecosystem. As part of this investment, Mike Cichowski of FTV will join the Saphyre board of directors.
Saphyre's interoperability network integrates with leading industry platforms and serves over 75 major financial institutions, managing thousands of accounts and more than $3 trillion in assets. This network effect grows stronger with each new client, helping expand efficiency gains across capital markets.
Outdated, manual processes for exchanging onboarding data in capital markets cause inefficiencies. Saphyre's solution facilitates compliance with regulatory changes, such as the transition to T+1 settlement, by improving transparency, speed, and control throughout trading workflows. The platform also enables near real-time trade settlements.
Junaid Baig, head of strategic investments and co-head of strategy at BNP Paribas, expressed continued support for Saphyre and the innovation the company is bringing to the industry. BNP Paribas remains a committed partner to Saphyre.
Gabino Roche, Jr., CEO and founder of Saphyre, commented on the investment, expressing excitement about revolutionizing financial services workflows with patented AI technology. He noted that financial institutions face increasing pressure to improve speed, transparency, and control, requiring solutions to automate onboarding, enhance client experience, and speed up turnaround.
This investment is seen as recognition of Saphyre's team's relentless innovation by a reputable investor. With the new funding, Saphyre is poised to continue its mission of revolutionizing financial services workflows, making them more efficient and streamlined.
[1]: [Source 1] [2]: [Source 2] [3]: [Source 3]
Investing in Saphyre's growth equity facilitates the development of AI-driven business solutions in the financial sector, particularly in technology-focused areas like automating account and fund onboarding. The funding will support innovations that shorten fund launch times, improve data exchange, and promote seamless data sharing among various investment ecosystem participants. [Source 1]
By investing in Saphyre, FTV Capital is backing a company that aims to revolutionize financial services workflows through patented AI technology, focusing on areas like reducing manual processes, enhancing efficiency, and providing a more streamlined client experience in capitalism. [Source 3]
