Investment will drive continued product innovation, accelerate go-to-market and international expansion, and deepen integration across the financial services ecosystem from pre- through post-trade
Saphyre, a leading AI-powered software platform for automating finance operations and trading workflows, today announced it has closed a $70 million growth equity investment from FTV Capital,a sector-focused growth equity firm with a strong track record of investing in high-growth capital markets technology companies. The investment will enable Saphyre to accelerate go-to-market efforts in pre- and post-trade, support ongoing product innovation, expand its global footprint and deepen integration across the financial services ecosystem.
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“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,” 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. It's incredibly rewarding to see our team's relentless innovation recognized by such a reputable investor, and we're just getting started.”
Capital markets participants – spanning buy-side investment managers, asset owners, sell-side banks and asset servicers – have long relied on outdated, manual processes when exchanging and maintaining onboarding data with counterparties, creating massive inefficiencies at scale. At the same time, financial institutions face increasing pressure and expectations around speed, transparency and control, necessitating solutions that standardize and automate onboarding in order to improve the client experience and accelerate turnaround times.
Founded in 2017, Saphyre has built a proprietary, memory-driven technology platform that helps investment ecosystem participants onboard counterparties more efficiently. By intelligently digitizing and structuring pre-trade data while preserving context across fund lifecycles, the platform enables counterparties to achieve ready-to-trade status in as little as 24 hours, dramatically shortening fund launch times and eliminating up to 75 percent of redundant post-trade activities. By establishing a golden source of data in the pre-trade phase, Saphyre proactively prevents downstream issues and empowers institutions to settle trades in near real-time. Its solution enhances operational control, improves risk oversight and positions clients to navigate major regulatory changes such as the move to T+1 settlement.
“Despite the rapid pace of innovation in financial services, middle-office workflows continue to rely on outdated and fragmented processes,” said Mike Cichowski, partner at FTV Capital. “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.”
Saphyre's powerful interoperability network integrates with leading industry platforms and today serves over 75 of the world's largest financial institutions,representing thousands of accounts and more than $3 trillion in assets under management.
“BNP Paribas remains a committed partner to Saphyre and supports the innovation the company is continuing to bring to the industry,” said Junaid Baig, head of strategic investments and co-head of strategy at BNP Paribas.
As part of this investment, Cichowski will join the Saphyre board of directors.
About SaphyreSaphyre leverages AI technology to digitize all pre-trade data and activities across multiple counterparties: from asset owners to investment managers, hedge funds to prime brokers, client firms to broker-dealers and custodians, and much more. Saphyre's platform maintains memory of data and documents, resulting in clients not having to search or resubmit information, and expedites flow in a digitally structured manner so that it can be consumed and understood by any permissioned counterparty in the finance industry. This allows firms not only to assess risk faster, but also to speed up their onboarding processes, get real-time ready-to-trade statuses per account, and eliminate up to 75% of redundant or inefficient post-trade activities.
About FTV CapitalFTV Capital is a sector-focused growth equity investment firm that has raised more than $10.2 billion to invest in innovative, high-growth companies across financial technology and services, vertical software, enterprise technology and services, and healthcare technology and services. Founded in 1998, FTV has developed a highly differentiated and disciplined growth equity model, which leverages the firm's deep domain expertise and thematic investing approach to help portfolio companies accelerate growth. FTV also provides companies with access to its Global Partner Network®, a strategic group of more than 600 executives from many of the world's leading financial services firms and FTV Propel®, an in-house team of seasoned operational leaders who deliver counsel and resources across a range of critical business functions.
FTV has invested in over 150 portfolio companies, including Derivative Path, FundApps, Masttro, True Potential, Validus, Windward and Zema Global, and successfully exited/partially exited Actimize (acquired by NICE), Apex Fund Services (acquired by Genstar), Centaur (acquired by Waystone Group), Egress (acquired by KnowBe4), Enfusion (acquired by Clearwater Analytics), InvestCloud (acquired by Motive Partners) and WorldFirst (acquired by Ant Financial). For more information, please visit www.ftvcapital.com and follow the firm on LinkedIn.
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