Pico, a provider of technology-as-a-service for the global financial markets, announced that EDBI, a global Asian-based investor, is now a Pico investor and strategic partner, joining existing investors Nomura, Goldman Sachs, J.P. Morgan, UBS, Wells Fargo, among others. Financial details of EDBI’s investment are not being disclosed.
Some of Pico’s investors are also clients, which include more than 400 banks, exchanges, asset managers, financial technology vendors and trading firms operating across five continents.
“EDBI was instrumental to our decision in selecting Singapore as our Asia headquarters when we launched in the region,” said Jarrod Yuster, Pico Founder and CEO, in a statement. “We see a bright future for Singapore in financial services, particularly as it promotes investment in new technology innovations like blockchain and distributed ledger technology, in which Pico is at the forefront of supporting.”
Over the past 12 months, Pico has steadily expanded its APAC presence with strategic hires, the launch of new offices, additional data center presences, including Singapore, Hong Kong, Tokyo, Korea and Taiwan. Within the next 18 months, the firm plans to add 20 more data centers in the region, completing its strategic plan for comprehensive coverage of APAC financial markets.
“With financial markets increasingly leveraging data analytics to better service clients and identify new market opportunities, Pico’s real-time analytics and machine intelligence platform will be a key technology enabler to the local financial community and contribute to strengthening Singapore’s position as a leading global financial center,” said Chu Swee Yeok, CEO and President of EDBI, in a statement.