FinOptSys, Inc., a cutting edge FinTech focused on the securities financing market, announced today that it has raised $2.1 million in a heavily oversubscribed seed round. Appia Ventures, a New York-based private investment firm, led the round and raised capital on an exclusive basis. A host of industry professionals and strategic investors participated in the round through Appia Ventures.
While the financing round’s initial target was $1.5 million, it was significantly oversubscribed, prompting the firm to increase the size of the round by 40%. In addition to this financing, FinOptSys previously raised $3.5 million in a pre-seed round in 2019.
Anand Krishnan & Divyesh Bhakta – FinOptSys’ Co-CEOs: “We are fortunate to have overwhelming and continued interest and support in our start-up. This current round was not only a testament to Appia’s ability to raise funds but also to the broader industry acknowledging the need for FinOptSys’s unique state-of-the-art, best-in-class offering – which delivers Solutions for the Future, today!”
FinOptSys has developed a fully operational platform, FORTE, that addresses all aspects of today’s securities financing market and paves the way for true Peer-to-Peer transactions with a seamless STP solution. FORTE is user-agnostic, and its plethora of functionality provides institutional clients with algorithmic tools and rich data analysis that optimize financial resources to not only enhance yields, but to also reduce costs. The technology was developed over the past 18 months and is already in beta-testing by several preeminent institutional clients and financial institutions. FinOptSys will use the funds to hire technical sales professionals and client-servicing staff to onboard these and other clients.
John Stracquadanio, Appia Ventures partner and FinOptSys board member, commented,“ As we’ve seen in other industries, technology is advancing the securities finance businesses by placing more analysis and control in client hands. FORTE is a platform that bridges across several client segments, including buy and sell side firms. Appia is very excited to help FinOptSys in its journey to advance transparency and efficiency across the securities finance world.”
“We are very pleased to help finance FinOptSys’ growth,” said Kevin Felix, an Appia Ventures partner and FinOptSys Advisory Board member. “Our lead and exclusive mandate for this seed round was extremely well received by investors, which is testament to both Appia’s capabilities and FinOptSys’ technology.”