24 January 2018
visit www.ebaday.com

Fintech fund Illuminate Financial invests in CloudMargin

25 February 2015  |  5903 views  |  0 Keys on Card

Illuminate Financial, a fintech venture fund focused on the capital markets industry, has made its first investment since its launch last year, taking a stake in collateral management outfit CloudMargin.

Originally backed by a group of senior financial market executives, CloudMargin's collateral and margin management technology was developed to cater specifically to buy-side and non-bank institutions such as corporates, hedge funds, insurers, pension funds, asset managers and more. The Web-based product offers low-cost "pay as you go" menu-based pricing as an alternative to expensive bespoke deployments from package providers.

The move marks Illuminate’s first investment in a fintech firm since it was launched last year by industry veteran Mark Beeston, who previously managed Icap’s post-trade risk and information division.

Says Beeston: “CloudMargin fits perfectly into our investment thesis of identifying and accelerating the growth of young companies that will lead the next stage of technology innovation within capital markets. It is unique in that it offers a low cost solution for a range of industry participants as well as improving efficiency for the major sell side players who interact with those same counterparties.”

CloudMargin recently announced connectivity to AcadiaSoft, the collateral messaging platform, where Mark Beeston was a former member of the Board.

Richard Berliand, board advisor to CloudMargin comments: “We chose Illuminate because of their unique understanding of the markets and ongoing changes around collateral processing. Crucially, the team at Illuminate provides not only capital, but has a proven track record of creating, funding and scaling fintech market infrastructure that will be highly beneficial to CloudMargin’s growth journey.”
KeywordsFINDEX

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

SmartStream acquires Algorithmics Collateral assets

SmartStream acquires Algorithmics Collateral assets

04 February 2015  |  6126 views  |  0 comments | 1 tweets | 2 linkedin
OpenGamma names Beeston as chairman; appoints Conde to the board

OpenGamma names Beeston as chairman; appoints Conde to the board

27 October 2014  |  6791 views  |  0 comments | 7 tweets | 1 linkedin
DTCC warns demand for collateral set to overwhelm system infrastructures

DTCC warns demand for collateral set to overwhelm system infrastructures

22 January 2014  |  6714 views  |  0 comments | 5 tweets | 6 linkedin
JPMorgan launches Collateral Central

JPMorgan launches Collateral Central

17 June 2013  |  6204 views  |  0 comments | 4 tweets
Liquidity Alliance formed to tackle global collateral crunch

Liquidity Alliance formed to tackle global collateral crunch

16 January 2013  |  6020 views  |  0 comments | 2 tweets | 2 linkedin
Icap hires Beeston to spearhead post-trade expansion

Icap hires Beeston to spearhead post-trade expansion

16 November 2009  |  12491 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.fivedegrees.nlvisit www.capgemini.comvisit www.niceactimize.com

Top topics

Most viewed Most shared
Banks shift priorities toward growth, digitisation and innovation - surveyBanks shift priorities toward growth, digi...
9831 views comments | 38 tweets | 48 linkedin
Standard Chartered establishes fintech innovation and investment unitStandard Chartered establishes fintech inn...
9512 views comments | 14 tweets | 14 linkedin
Sbanken opens developer portal and invites customers to build their own digital bankSbanken opens developer portal and invites...
8548 views comments | 17 tweets | 11 linkedin
Could distributed ledgers restore the reputation of the MBS market?Could distributed ledgers restore the repu...
7062 views comments | 6 tweets | 9 linkedin
Metro Bank joins digital revolution with instant online account openingMetro Bank joins digital revolution with i...
7044 views comments | 13 tweets | 25 linkedin

Featured job

Competitive base + commission (double OTE)
London, UK

Find your next job