Transcend Street has raised $10 million in a Series A financing round led by Nyca Partners, a fintech venture capital firm, which will facilitate the US firm’s growth in Europe, as well as new product offerings.
The funding round was also completed with support from an unnamed major global custodian bank.
The collateral optimisation solutions provider says it has allocated the funds to capitalising on its recent growth in clients, headcount and product offerings, as well as further pursuing its ambition to become a key service provider to the buy-side community.
This regional growth includes the opening of Transcend’s first European office in the first half of 2021 and the formation of a local team to service its growing stable of EU-based clients.
Transcend Secures Investment from Citi to Accelerate Global Deployment of Enterprise-wide Inventory Optimization Solutions