Saphyre, an AI-based software platform that automates finance operations and trading workflows, has raised $70 million in growth equity from FTV Capital. This funding will help Saphyre enhance its pre- and post-trade initiatives, support product innovation, and expand globally.
Capital markets participants, such as investment managers and banks, often rely on outdated manual processes for data onboarding, resulting in inefficiencies.
Saphyre’s memory-driven platform enables counterparties to achieve “ready-to-trade” status in just 24 hours, significantly reducing fund launch times and eliminating up to 75% of redundant post-trade activities.
By providing a reliable pre-trade data source, Saphyre facilitates near real-time trade settlements and improves operational control.
Saphyre currently serves over 75 of the world’s largest financial institutions, managing assets exceeding $3 trillion. Following this investment, Cichowski will join Saphyre’s board of directors.
KEY QUOTES:
“This investment marks a major milestone in Saphyre’s mission to revolutionize financial services workflows with our patented AI technology and exceptional commitment to our clients. 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. It’s incredibly rewarding to see our team’s relentless innovation recognized by such a reputable investor, and we’re just getting started.”
Gabino Roche, Jr., CEO and founder of Saphyre
“Despite the rapid pace of innovation in financial services, middle-office workflows continue to rely on outdated and fragmented processes.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. We’re excited to support Gabino and the Saphyre team as they scale and continue to unlock efficiencies through automation for their rapidly growing blue-chip client roster.”
Mike Cichowski, partner at FTV Capital
“BNP Paribas remains a committed partner to Saphyre and supports the innovation the company is continuing to bring to the industry.”
Junaid Baig, head of strategic investments and co-head of strategy at BNP Paribas
