Broadway Technology, a leading provider of high-performance software and infrastructure for global financial institutions, announced today that it has closed a $42 million minority investment led by Long Ridge Equity Partners. The financing will accelerate Broadway’s growth into new global markets and will allow the company to further expand its world-class product and service offering.
Founded in 2003, Broadway provides mission-critical trading solutions for top global, regional, and national banks, brokers, and hedge funds. Leveraging its core technology platform, the TOC, Broadway’s solutions handle over $100 trillion of trading volumes annually within the fixed income and foreign exchange markets.
Broadway’s unique combination of next-generation fintech applications and unifying infrastructure enables its clients to adapt to dynamic competitive and regulatory trends. The TOC, Broadway’s data-oriented architecture, enables seamless integration of legacy software systems, unprecedented visibility into and control over enterprise data, and a wide range of large integrated business applications.
“We are excited to partner with Long Ridge as we enter our next phase of growth,” Broadway CEO, Tyler Moeller, said. “We chose Long Ridge as a partner due to their unparalleled expertise in capital markets technology and strong track record of investing in leading financial technology firms. Long Ridge’s capital and strategic support will enable Broadway to accelerate our global expansion and continue our rapid growth, while delivering powerful new functionality and top-tier services to our existing customers.”
“Broadway provides industry-leading FX, fixed income, enterprise, and regulatory technology solutions to the world’s largest financial institutions,” said Kevin Bhatt, Long Ridge Partner. “The company is well positioned to take advantage of a rapidly evolving capital markets landscape with its advanced, flexible solutions and world-class development capabilities. We look forward to working closely with the Broadway team as they continue to penetrate new and existing geographies, customers, and asset classes.”
Long Ridge’s prior experience investing in the capital markets technology space includes Portware, Liquidnet, Currenex, and FXCM. In connection with the investment, Jim Brown and Kevin Bhatt of Long Ridge Equity Partners will join the Broadway Board of Directors.
Signal Hill served as financial advisor and Dentons US LLP served as legal counsel to Broadway. Budd Larner served as legal counsel to Long Ridge.