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AI fintech Saphyre raises USD 18.7 mln in Series A

Wednesday 23 March 2022 14:16 CET | News

US-based Saphyre, a fintech that uses AI technology to structure all pre-trade data while eliminating post-trade inefficiencies, has announced its Series A round of USD 18.7 million.

The round was led by HCAP Partners, with JP Morgan and BNP Paribas participating in the round. Terms of the investment were not disclosed. Saphyre’s AI-powered platform allows for direct collaboration between multiple financial parties related to the same client.

The platform digitizes all pre-trade data and documents, eliminating manual processes and allowing for expedited access to data throughout the trade lifecycle. Since its launch in 2017, Saphyre has received 104 issued patents and has been integrated with seven different platforms as part of its interoperability design. 

The Series A funding will be used to accelerate Saphyre’s product development initiatives in both its pre- and post-trade offerings, as well as to support its expansion of interoperability initiatives with a number of other fintech/vendor solutions in the industry.

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Keywords: funding, artificial intelligence, data sharing, fintech
Categories: Banking & Fintech
Companies:
Countries: United States
This article is part of category

Banking & Fintech