TP ICAP acquires stake at ipushpull ahead of Fusion Connect integration
“Data is a kingmaker in modern markets. Having fully integrated, efficient data workflows is essential to the success of banks, brokers, asset managers and data providers.”
TP ICAP has acquired a minority stake of ipushpull in a Series A funding round aimed at further developing the platform as well as expanding the firm’s workforce to capitalize on the significant demand for its services.
This was the first time that ipushpull has received institutional funding and, as part of the deal, Dan Wray, TP ICAP’s Group CIO will join the board of ipushpull. Dan Wray brings more than 25 years of experience in technology roles in finance.
ipushpull plans to further integrate with TP ICAP’s Fusion Connect offering
ipushpull is a real-time data sharing and workflow platform that tripled its revenue since the pandemic, with clients including NatWest Markets, BNP Paribas, Insight Investment, Trayport, and ETD. Growth has been driven by data providers and buy and sell-side streamlining both delivery and accessibility of data and data-driven workflows. TP ICAP uses ipushpull’s services since 2018.
The platform enables financial institutions and data-driven companies to share live pricing and trade data, by extracting and consolidating unstructured data from sources including chat platforms and Microsoft Excel alongside structured data from APIs and databases. It then delivers data to a customer’s preferred application as needed. As a result, ipushpull’s solutions improve decision-making, efficiency, data connectivity and user experience for customers across the financial markets.
ipushpull plans to roll out its technology in more business areas over the course of 2023 and further integrate with TP ICAP’s Fusion Connect offering, to enhance TP ICAP’s client experience.
“Data is a kingmaker in modern markets”
Matthew Cheung, CEO of ipushpull, said: “Data is a kingmaker in modern markets. Having fully integrated, efficient data workflows is essential to the success of banks, brokers, asset managers and data providers. We are therefore delighted to have received our first institutional investment from long-term partner, TP ICAP, marking an exciting new chapter for ipushpull – deepening our relationship with the firm and giving our business a platform to accelerate growth. We have exciting plans to further enhance our technology, win market share and scale the business as firms on the buy/sell-side and data driven companies look to enhance their data workflows.”
Dan Wray, Group CIO of TP ICAP Group, said: “I’m delighted to conclude this investment as we continue our journey to offer best-in-class services to clients through our Fusion platform. We see strong demand for the ipushpull product in the very near future, and I’m happy to join the board to help them on that journey.”
