Fintech company T-REX today announced the completion of a new $15 million financing round led by Citi, the Westly Group and Viola Fintech, with participation from innogy and Macquarie. T-REX is developing analytics and data solutions for complex investments and the new funding will accelerate expansion of the company’s enterprise data management service and analytics platform for institutional investors, banks, and asset originators across alternative markets.
Prof. Daniel Tsiddon, founder and general partner at Viola Fintech and former Bank Leumi deputy CEO said, “T-REX is without a doubt the key to unlocking the floodgates of capital across alts. It uniquely simplifies workflow and strips out perceived investment risk by digitizing data and automating processes.” T-REX has added Tsiddon to its Board, as well as fintech entrepreneur Tim Wang, Principal at Westly.
Headquartered in New York, T-REX has a development center in Tel Aviv.
T-REX CEO Benjamin Cohen said, “T-REX deepens understanding of valuation and risk across complex investments, benefitting our clients, industry sectors, and financial markets at large.” Cohen continued, “We are delighted to be backed by the most influential players in structured and project finance, Citi and Macquarie respectively, and are now positioned to drive capital markets innovation globally.”
Citi is backing T-REX through its Spread Products Investment Technologies (SPRINT) initiative, within the Citi Markets FinTech Investments program. “T-REX is a unique fixed income capital markets solution that tracks the complete lifecycle of illiquid and alternative assets,” said Matt Zhang, Head of SPRINT at Citi. “This makes it both a strategic investment and a valuable tool for our business.”
Published by Globes, Israel business news – en.globes.co.il – on September 4, 2019
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Article source: https://www.globes.co.il/en/article-1001299547