Saphyre, a New Jersey-based fintech has raised US$70 million in growth equity funding from FTV Capital.
The investment will support the firm’s expansion across global markets, further product development, and deeper integration within the financial services ecosystem.
Founded in 2017, Saphyre provides a proprietary platform that digitises and organises pre-trade data to streamline onboarding processes for buy-side and sell-side institutions.
Its solution is designed to reduce redundancies in post-trade operations and enable counterparties to reach ready-to-trade status within 24 hours, addressing long-standing inefficiencies in capital markets workflows.
“This investment marks a major milestone in Saphyre’s mission to revolutionise financial services workflows with our patented AI technology and exceptional commitment to our clients,”
said Gabino Roche, Jr., CEO and founder of Saphyre.
“FTV Capital stands out as a partner that not only understands the structural inefficiencies in this space, but also brings deep relationships across our core client base and a strong track record of scaling capital markets technology companies.”
Mike Cichowski, partner at FTV Capital, added:
“Despite the rapid pace of innovation in financial services, middle-office workflows continue to rely on outdated and fragmented processes. Saphyre has grown rapidly as a category leader in automating account and fund onboarding through its differentiated platform and cloud-native architecture, which enables seamless data sharing between investment managers, asset owners and the sell-side and benefits from a powerful network effect that strengthens with each new client.”
Saphyre currently works with more than 75 of the world’s largest financial institutions, covering thousands of accounts and over US$3 trillion in assets under management.
The firm’s technology integrates with leading industry platforms and aims to improve operational control, risk oversight and regulatory compliance, particularly with the transition to T+1 settlement.
BNP Paribas remains an existing partner of Saphyre.
Following the investment, Cichowski will join Saphyre’s board of directors.
Featured image credit: Edited by Fintech News America, based on image by Freepik
