March 22, 2016
Edgewater Markets Raises $30 Million Growth Equity Investment to Enhance Technology Platform, Expand Global Footprint
FX trading and liquidity platform’s first institutional round led by FTV Capital
New York, NY — March 22, 2016 — Edgewater Markets, an industry leader in electronic foreign exchange aggregation and distribution to global institutional clients, today announced the company has raised a $30 million growth equity minority investment led by FTV Capital. This first institutional capital raise will be used to enhance the company’s technology platform, grow the sales team and expand its global reach. As part of the transaction, FTV Capital partner Brad Bernstein will join the company’s board of directors and partner Kyle Griswold will join as a board observer.
“Edgewater’s mission is to consistently exceed the expectations of the most demanding institutional clients in one of the financial sector’s largest and most sophisticated markets. As we enter the next phase of expansion, we chose to partner with the FTV Capital team for its track record of building category leaders in financial services. We are confident that FTV’s deep domain expertise and extensive strategic network will contribute to Edgewater’s continued success,” said Skovran Schreder, co-founder and CEO of Edgewater Markets.
Founded in 2009, Edgewater has developed and utilizes the most advanced technology, featuring price engines and aggregation tools that enable liquidity to be delivered flexibly, securely and fully integrated into a client’s existing systems. Customers can choose to access Edgewater’s liquidity through leading white label solutions and its proprietary ECNs.
Alex Scarsini, co-founder and president noted, “Edgewater’s global footprint helps to ensure total access to FX markets throughout the world and provides its 250 plus clients – including hedge funds, institutional FX traders, brokers, banks, electronic communication networks (ECNs) and high frequency traders (HFTs) – with highly tailored, accurate and low cost FX electronic execution.”
“As the foreign exchange market rapidly evolves, Edgewater is adapting and delivering the highest level of liquidity, full fill execution, speed and anonymity to the world’s leading FX clientele. We are highly impressed with the Edgewater team and their ability to effectively execute in this massive $5 trillion market,” said Brad Bernstein, partner and head of FTV Capital’s New York office. “FX platforms at many banks are outdated and more expensive, driving FX clients to seek innovative technology solutions like Edgewater for access to global FX liquidity pools, achieving better pricing and more efficient execution.”
“As Edgewater clients told us repeatedly, liquidity is essential in today’s volatile market,” said Kyle Griswold, partner at FTV Capital. “Edgewater Markets provides traders with a customized, flexible technology platform that easily integrates to front and back-office systems. This seamless integration ensures anonymity along with optimal, efficient and low cost FX electronic execution.”
About Edgewater Markets
Edgewater Markets is the industry leader in electronic foreign exchange aggregation and distribution to global institutional clients. Edgewater has developed and continues to advance its price engines and aggregation tools, in addition to utilizing leading technology solutions in the market. Edgewater’s global footprint helps to ensure total access to FX markets throughout the world — thus providing clients with optimal, efficient and low cost FX electronic execution. Headquartered in New York City, Edgewater has offices in London, Singapore, Mexico City, Los Angeles and Chicago. Learn more at www.edgewatermarkets.com.
About FTV Capital
FTV Capital is a growth equity investment firm that has raised over $1.8 billion since inception to invest in high-growth companies offering a range of innovative solutions in three sectors: enterprise technology and services, financial services, and payments and transaction processing. FTV’s experienced team leverages its domain expertise and proven track record in each of these sectors to help motivated management teams accelerate growth. FTV also provides companies with access to its Global Partner Network, a group of the world’s leading enterprises and executives who have helped FTV portfolio companies for more than a decade. Founded in 1998, FTV Capital has invested in 91 portfolio companies, including companies in the financial services ecosystem such as Aspire Financial Services, ETF Securities, Financial Engines (IPO, March 2010), IndexIQ (acquired by New York Life Investment Management), InvestCloud, PowerShares Capital Management (acquired by Invesco), Swan Global Investments, True Potential and VelocityShares (acquired by Janus Capital). FTV has offices in San Francisco and New York. For more information, please visit www.ftvcapital.com.
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