US-based fintech Saphyre has raised USD 70 million in growth equity from FTV Capital. The company develops an AI-based platform aimed at digitising and automating pre- and post-trade processes, including account and fund onboarding, announces Sapphire in a press release.
Founded in 2017, Saphyre’s technology structures pre-trade data and keeps it linked through the fund lifecycle. The firm says this can bring counterparties to “ready-to-trade” status within 24 hours, shorten fund launch times, and cut redundant post-trade work by up to three quarters. By establishing a consistent data set before trading starts, it also seeks to prevent downstream settlement issues and support readiness for faster settlement cycles such as T+1.
Targeting inefficiencies
The company targets inefficiencies in the largely manual onboarding processes still used by investment managers, asset owners, banks, and custodians. Standardised, automated workflows could speed up client interaction and improve operational oversight, according to Saphyre.
The platform is connected to major industry systems and is currently used by more than 75 large financial institutions, together managing over USD 3 trillion in assets. BNP Paribas is among its partners.
The investment will be used to scale go-to-market activity, expand internationally, and develop the product further. FTV Capital partner Mike Cichowski will join Saphyre’s board.
