Derivatives Margin Analytical Platform Cassini Systems Raises $20.5 Million

By Dan Anderson ● Dec 20, 2021
  • Cassini Systems recently announced it raised $20.5 million in funding. These are the details.

Cassini Systems, Ltd — a leading provider of pre- and post-trade margin and collateral analytics for derivatives market participants — recently announced it completed a $20.5 million growth financing round led by Ten Coves Capital and joined by existing investor Mosaik Partners. And the company will use the proceeds to further accelerate its product development and global market expansion. As part of the investment, Steve Piaker (Ten Coves Managing Partner) is joining the Cassini Board of Directors.

The regulatory changes enacted after the 2008 global financial crisis continue to drive increased margin requirements and collateral demand for investment managers trading in over-the-counter (OTC) derivatives, futures, options, and related products. And the Cassini fully integrated platform enables asset managers to assess and optimize the liquidity and carry the cost of their diverse trading strategies across the trade lifecycle from pre-trade, to intra-day to post-trade. These tools allow firms to achieve large cost savings while improving resilience to collateral stress.

The additional investment by Ten Coves and Mosaik follows a year of strong growth by Cassini, including entering into major new strategic partnerships and receiving industry awards for both its products and workplace. And the funds will be used to expand the company’s sales force and further broaden the capabilities of its highly sophisticated analytics platform.

KEY QUOTES:

“This financing is a crucial next step as we continue to scale our operations and add to our global client base, which includes many of the world’s largest banks and asset management firms. With this latest investment, we look forward to deepening and expanding our solutions, and continuing to deliver the world-class service our clients expect.”

— Liam Huxley, Cassini founder and CEO

“Cassini fits perfectly with our strategy of investing in leading fintech companies with a strong platform for growth. The company operates at the intersection of three powerful trends: (i) integrated data and analytics, (ii) liquidity and trading cost optimization in the capital markets, and (iii) regulatory compliance. Its reputation for delivering powerful tools in partnership with providers of some of the world’s leading portfolio and risk management systems positions Cassini to continue to innovate and grow.”

— Steve Piaker, Ten Coves Managing Partner

“The Cassini team has delivered on all fronts since our initial funding in 2018, and we’re delighted to increase our investment alongside Ten Coves.”

— Howard Mergelkamp, Managing Partner of Mosaik Partners