Transcend Raises $10 Million to Meet Surge in Demand for Optimization of Collateralized Businesses

Transcend, a leader in business optimization for financial firms, has closed its Series A financing, limiting the raise to $10 million after over-subscription by potential investors. The financing round was led by Nyca Partners, a leading fintech venture capital firm, with support from a major global custodian bank. Proceeds will be used to rapidly scale product and sales infrastructure to meet growing demand from Transcend’s client base, which has more than doubled in the past two years to include 10 of the world’s largest banks and brokerage firms. 

Transcend’s rapid growth corresponds to a sharp increase in collateralized businesses looking to more efficiently deploy cash and securities across their firms. This is particularly important given a series of recent capital, liquidity and regulatory drivers, such as the uncleared margin rules for bilateral derivatives trading. These changes require significant upgrades in the capabilities and infrastructure of many firms, such as connecting siloed internal platforms and developing critical common capabilities, to remain competitive and compliant.

“Our investors and clients share our vision for industry transformation,” said Bimal Kadikar, CEO of Transcend. “As a team, we are not alone in believing that analytics, optimization and automation can provide a significant competitive advantage for firms’ funding and liquidity challenges. This investment will enable us to accelerate our global ambition and target our solutions across a range of sell-side and buy-side stakeholders.”

“We’ve been impressed by the strategic thinking of Bimal and the Transcend team for many years, especially in developing solutions for complex business areas like collateral and funding optimization. We are convinced that Transcend’s innovative solutions will deliver large-scale benefits for financial firms and will help them improve their competitiveness.” said Hans Morris, managing partner at Nyca.

Transcend was formed in 2013 by seasoned financial executives to make collateral and liquidity management at banks and counterparties more profitable and efficient. Its scalable technology works with a firm’s existing infrastructure to address specific business-level or enterprise-wide challenges. 

ABOUT TRANSCEND
Transcend is a leading provider of optimization solutions for collateralized businesses. With a growing roster of world-class banks and other financial institutions as clients, the firm is poised to become the gold standard for the real-time, firm-wide management of inventory, funding and liquidity. With more than 75 employees globally, Transcend addresses an array of regulatory and capital challenges that are facing the industry with a user-friendly, SaaS-based or on-prem collateral and liquidity management platform. For more information, visit transcendstreet.com.

Transcend discusses record year and 2021 growth plans with Global Investor

The last 18 months have been a period of tremendous growth and innovation for Transcend. We’ve doubled our client base, launched a sophisticated new optimization framework and made 31 new hires. Transcend also plans to open an EU office in 2021 to meet the increasing demand we’re receiving.

Our CEO Bimal Kadikar spoke with Oliver Wade at Global Investor Group about the Company’s recent success: https://bit.ly/3nGRiql

Click here to view the full article

Transcend Hires Former CTO of ENSO Financial

Kayur Parekh to lead expansion of Transcend’s technology for the buy-side

NEW YORK, NY (January 24, 2020) – Transcend, a leading provider of real-time collateral and liquidity optimization technology, has hired Kayur Parekh to join Transcend’s technology leadership team. He will focus on accelerating Transcend solutions and capabilities on the cloud and refining the solutions for the buy-side. Parekh brings more than 18 years of technology and financial markets experience.  

Before joining Transcend, Parekh was Chief Technology Officer at ENSO Financial, a leading SaaS-based solution company providing insights and analytics to the buy-side and prime brokers. At ENSO, Parekh spearheaded the technology transformation of the next generation of ENSO solutions focused on cloud and microservices based architecture. Prior to ENSO, Kayur held a number of impactful roles including Senior Technology Director at NEX (now part of CME Group), Senior Solutions Architect of the initial technology platform at Transcend, and Senior Vice President at Citi, where he implemented and managed trade capture and STP systems.

“Transcend is experiencing explosive growth for our analytics, optimization and regulatory solutions,” said Bimal Kadikar, CEO and Founder of Transcend. “I have known Kayur for years and his expertise in developing advanced, scalable systems on the cloud and for the buy-side will accelerate our strong technology capabilities and momentum.” 

“I look forward to joining Transcend and leveraging my extensive experience in delivering state-of-the-art technology for cross-asset collateral, funding and liquidity management,” said Parekh. “I am excited to work with the talented Transcend team to help solve our clients’ complex challenges.”

As Transcend’s Business Grows, So Has Our India Team and Office

Our CEO Bimal Kadikar joined our team in India to open a larger office in Hyderabad. We have expanded our team’s talent and capabilities significantly across all functions – analysis, development, QA & support. This bigger, brighter space creates a very collaborative environment and will support our ambitious growth plans.