Finance automation company Saphyre secures $70 million in growth equity funding
Saphyre, an AI-powered platform for automating finance operations and trading workflows, has secured a $70 million growth equity investment from FTV Capital. This investment will enable Saphyre to accelerate its go-to-market efforts, support ongoing product innovation, expand globally, and deepen integration across the financial services ecosystem.
The investment will empower Saphyre to scale product development efforts to address structural inefficiencies in financial services workflows with patented AI technology. It will also help broaden the company's geographic reach to serve a global client base and increase market penetration.
Mike Cichowski, partner at FTV Capital, is excited about the investment, highlighting Saphyre's growth as a category leader in automating account and fund onboarding through its differentiated platform and cloud-native architecture. As part of this investment, Mike will join Saphyre's board of directors.
Saphyre's proprietary, memory-driven platform streamlines onboarding by digitizing pre-trade data and maintaining context across fund lifecycles. By establishing a centralized data source in pre-trade, Saphyre prevents issues downstream and enables near real-time trade settlement.
The rapid growth of Saphyre is attributed to its ability to enable seamless data sharing between investment managers, asset owners, and the sell-side, benefiting from a powerful network effect that strengthens with each new client. Saphyre's interoperability network integrates with leading industry platforms and serves over 75 major financial institutions, managing thousands of accounts and more than $3 trillion in assets.
The Saphyre platform allows counterparties to be ready-to-trade in as little as 24 hours, reducing fund launch times and cutting up to 75% of redundant post-trade activities. This efficiency is crucial for financial institutions facing increasing pressure to improve speed, transparency, and control, requiring solutions to automate onboarding, enhance client experience, and speed up turnaround.
FTV Capital, known for its experience in capital markets technology, provides not only funding but also strategic industry relationships that align with Saphyre's mission to digitize and streamline financial workflows across the investment lifecycle, from pre- through post-trade. BNP Paribas remains committed to supporting Saphyre and the innovation the company is bringing to the industry.
Gabino Roche, Jr., CEO and founder of Saphyre, states that the investment marks a significant step in Saphyre's mission to revolutionize financial services workflows with patented AI technology and client commitment. Mike Cichowski also expresses excitement about supporting Gabino and the Saphyre team as they scale and continue to unlock efficiencies through automation for their growing blue-chip client roster.
With this investment, Saphyre is well-positioned to continue its growth and lead the way in automating financial workflows, providing a more efficient, transparent, and controlled environment for all parties involved in the financial services ecosystem.
The growth equity investment from FTV Capital will bolster Saphyre's business growth, as it will be utilized for expanding the company's geographic reach, enhancing product innovation, and deepening integration across the financial services ecosystem. As technology advances, this investment in Saphyre's AI-powered platform for finance automation will empower them to scale product development efforts to address inefficiencies in financial services workflows.
