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Citi takes stake in data management firm Solidatus

Citi takes stake in data management firm Solidatus

Citi is taking a stake in data management startup Solidatus Technology and will roll out the company's technology worldwide.

Citi is the first major investor in the enterprise data management company, which says it will use the fresh funds to to further its international expansion across the United States and Apac and increase its penetration across non-financial sectors.

The Solidatus suite enables organisations to map, manage and monetise their data assets, and provides a foundational platform digital transformation initiatives, data governance, cloud migration and regulatory reporting.

Stuart Riley, global head of operations and technology for Citi’s Institutional Clients Group, says: “Our partnership with Solidatus will bring state-of-the-art technology to enhance our data ecosystem. It’s critical we understand our organisational data flow to enable us to deliver efficiently to our clients.”

The value of the investment was not disclosed.

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