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

Rick Steves

Saphyre has developed an industry leading software platform that organizes unstructured data and documents and automates activities in the end-to-end trade life cycle.

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

Saphyre digitizes all pre-trade data and activities across multiple counterparties: from asset owners to investment managers, hedge funds to prime brokers, any client firms to broker-dealers and custodians.

Its solution allows firms not only to assess risk faster but to speed up their onboarding processes, get real-time ready-to-trade statuses per account, and eliminate 70%-75% of redundant or inefficient post-trade activities.

HCAP, JP Morgan, BNP Paribas back Saphyre

The startup leverages patented AI technology to structure all pre-trade data while eliminating post-trade inefficiencies in order to allow secure, expedited access to data throughout the trade lifecycle.

Founded in 2017, Saphyre has received 104 issued 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 accelerate product development initiatives in both its pre- and post-trade offerings, as well as to support its ongoing expansion of interoperability initiatives with a number of other fintech/vendor solutions in the industry.

Gabino Roche, CEO and Founder at Saphyre, commented: “It’s an honor to be strategically supported by HCAP, J.P. Morgan and BNP Paribas. Today’s announcement is a testament to years of hard work and the development of a best-in-class suite of products. 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, J.P. Morgan’s Securities Services, added: “J.P. Morgan was an early adopter of Saphyre and we’re delighted to continue supporting them on their journey to create market-leading onboarding workflow. We believe in driving industry change to enable better collaboration tools for our clients, our peers and ourselves, and Saphyre’s technology is helping do that. We are proud to support Saphyre to further build scale in the industry.”

Joe Bonnaud, Global Markets COO and Head of Engineering, said: “As a leading European Global Markets house, we are proud to partner with Saphyre in delivering innovation and transforming the client experience. Technology is a cornerstone of our growth ambition and by partnering with leading fintech firms we aim to harness powerful, scalable collaboration solutions for the benefit of our clients globally.”

Tim Bubnack, Managing Partner at HCAP Partners, commented, “Saphyre has developed an industry leading software platform that organizes unstructured data and documents and automates activities in the end-to-end trade life cycle; from pre-trade, through trading, and post-trade. In addition, management has created a workplace culture grounded in values that align well with HCAP and our Gainful Jobs Approach™️. We are pleased to partner with the Saphyre team and its strategic partners in the next stage of the company’s growth.”

Read this next

Digital Assets

BlockDAG Presale Raises $9.9M as Batch 5 Nears Sell-Out Amid Bonk’s Fluctuating Trading Volume & Spell’s Bullish Price

Explore BONK’s trading volume, SPELL’s market shifts, and why BlockDAG’s 10,000 ROI makes it an ideal crypto for savvy investors in 2024.

Digital Assets

Cathie Wood’s sponsored Bitcoin ETF sees historic $200 million inflows

The ARK 21Shares Bitcoin ETF (ARKB), co-sponsored by Cathie Wood’s ARK Invest, registered historic inflows exceeding $200 million on Wednesday, signaling a robust appetite among investors for Bitcoin-centric investments.

Digital Assets

Sam Bankman-Fried might see his 25-year sentence halved

Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, was sentenced to 25 years in federal prison by a Manhattan court on Thursday. This comes after he was convicted of defrauding customers and investors, with Judge Lewis Kaplan highlighting the potential future risks posed by Bankman-Fried.

Technical Analysis

EURJPY Technical Analysis Report 28 March, 2024

EURJPY currency pair under the bearish pressure after the pair reversed down from the major resistance level 164.25, which also stopped the sharp weekly uptrend at the end of last year,

Digital Assets

BlockDAG’s Presale Hits $9.9M, MultiversX & MINA Price Predictions Show Green

Read about BlockDAG’s promising $10 prediction and insights on MultiversX Price Prediction as MINA’s potential unfolds.

Digital Assets

Rockstar Co-Founder and All-star Line Up Join Advisory Board to Take Metacade into Post Beta Orbit

Metacade, the revolutionary Web3 gaming platform, prepares to streak out of beta with a slew of ground-breaking initiatives that will redefine the way blockchain games are developed.

Retail FX

Prop firm The Funded Trader shuts down, claims relaunch in April

Prop trading firm The Funded Trader has ceased all operations, with claims for a relaunch in the near future.

Digital Assets

Ethereum-Based Tokenized Real Estate Platform USP Launches On Republic

How This Californian Startup Is Revolutionizing Real Estate Investment through Ethereum-Based Tokenization.

Digital Assets

Sui Spikes in Weekly DEX Volume, Joins Top 10 of All Blockchains

March DEX volume on Sui stands at over $2.88B – up more than 49% from February – with decentralized exchange Cetus and wholesale liquidity layer DeepBook leading.

<