TraderTools (TraderTools), a provider of business solutions, software and services to financial institutions trading FX, announced today that it closed a US$7.5 million round of financing on December 30, 2008.
Edison Venture Fund, based in Lawrenceville, NJ, invested US$7 million, while company management invested US$500,000. The proceeds will be used to expand sales, marketing and development of TraderTools' Liquidity Management Platform.
"TraderTools is accelerating growth even in today's volatile marketplace, with a technology platform that addresses an immediate market need - liquidity management in institutional FX," stated Edison General Partner, Chris Sugden. "Customers praised their innovative solutions and exceptional service," added Tom Vander Schaaff, Edison Vice President and Principal.
"Edison has extensive experience in Capital Markets, in general, and in FX, in particular, as evidenced by a previous investment in Gain Capital, creators of one of the world's largest retail FX markets," explained Marty Fawer, CEO of TraderTools. "We expect their strategic guidance and network of portfolio companies to help contribute to our business development," added Yaacov Heidingsfeld, TraderTools COO.