TraderTools, a New York–based provider of software and services for financial institutions trading foreign currency, has raised $7 million in VC funding from Edison Venture Fund. Company management also provided an additional $500,000.
Edison Venture Fund announced a $7 million investment in TraderTools, Inc. based in New York, NY. Company management participated in the $7.5M financing. The proceeds will be used to expand sales, marketing and development of this later stage financial services software company.
TraderTools provides business solutions, software and services to financial institutions trading foreign currency. The Liquidity Management Platform™ is the only system to integrate the four disciplines of electronic FX trading: pricing, dealing, order management and execution. The company is headquartered in New York, with R&D facilities in Ra’anana, Israel. Customers include Man Group, Julius Baer, BHF-BANK, Dresdner Bank, Prudential Financial, TD Securities and Thomson Financial.
Chris Sugden, General Partner, and Mark Galant, Edison Director Network member, will serve on the Board of Directors. Mark Galant is Founder and Chairman of Edison success, Gain Capital, a global leader in retail FX trading. Tom Vander Schaaff, VP Analysis, conducted Edison’s due diligence.
“Edison’s knowledge of our market, especially foreign currency, will be instrumental in our advancement,” stated Marty Fawer, CEO. “Edison’s value-added services, strategic guidance and network of portfolio companies will contribute to our business development.”
“The impressive management team is accelerating growth in this volatile market. TraderTools’ platform addresses an immediate market need—liquidity management in institutional FX,” stated Chris Sugden. “Customers praised their innovative solutions and exceptional service,” added Tom Vander Schaaff.
Edison has invested in 32 FinTech businesses. Active portfolio companies include Archive Systems, Billtrust, Blue Cod, FolioDynamix, IPP, Liberty Tax, Neat, PorticoScivantage, Tangoe and Telarix. Successful FinTech exits include Best Software, DPM, EdgeTrade, E-Transport, Longview Solutions and Princeton Financial Systems.
Edison has made 14 investments in New York including: CorrectNet, eChalk, EdgeTrade, FinePoint, Giant Realm, M5, Operative, Pinnacle Tax and SmartAnalyst.
About Edison Venture Fund
Established in 1986, Edison partners with entrepreneurs, service providers and other financing sources to build successful companies. Edison provides capital and value-added services to expansion stage ($5 to 20 million revenue), information technology businesses. Initial investments range from $5 to 8 million. Edison typically serves as a sole or lead investor in financings up to $10 million. In addition to providing expansion capital, Edison funds management buyouts, recapitalizations, spinouts and secondary stock purchases.
Edison’s investment professionals are based in Lawrenceville, NJ, McLean, VA, New York, NY, Needham, MA and West Chester, PA. Industry specialties include application software, communications, financial technology, interactive marketing, healthcare & pharmaceutical IT. Edison’s successes include Axent, Dendrite, Marcam, MathSoft, POMS, VirtualEdge, Visual Neworks, Vocus and many other information technology leaders, which have a combined market value exceeding $5 billion. Edison currently has $550 million under management and is actively making new investments. www.edisonventure.com
TraderTools™ LLC is a provider of business solutions, software and services to financial institutions trading FX. TraderTools’ Liquidity Management Platform™ is the only system to integrate the four disciplines of electronic FX trading: pricing, dealing, order management and execution. Our unique Dynamic Liquidity Manager™ monitors and controls inward and outward liquidity flows, making pricing and execution decisions in real time. We empower banks to maintain their leadership positions in FX with a single deployment and a single point of contact. And we work together with them to activate functionality according to their business strategy and timetable. Learn why the world’s financial services giants are using TraderTools to better manage their liquidity and optimize their FX trading operations, by visiting www.tradertools.com or emailing us at email@example.com.