TradAir announced that it has completed a Series D investment round, in which it managed to secure $11 million which it plans to use to expand its global business, including further developing its flagship foreign exchange platform.
The funding round was led by new investors GF Investments and the family office of Harvey Golub, who is the former Chairman and Chief Executive Officer (CEO) of American Express.
Long Ridge and Viola Ventures participated as existing investors.
Over the last year, TradAir has delivered strong financial, product, and operational performance, including 45% revenue growth, the launch of several new products, and increasing measures of customer satisfaction. The new investment demonstrates the compelling value proposition TradAir offers to a large and growing addressable market and will further accelerate TradAir’s momentum.
“Regional banks and brokerages across the world – and their clients – continue to pay inefficiently high trading costs because they do not have the in-house capabilities to build a full-suite of trading software or the budgets to work with legacy software vendors. TradAir’s state-of-the-art platform enables these participants to capture more value from each trade, effectively putting them on a level playing field with bulge bracket banks’ FX and other non-centrally cleared trading desks” said Ayal Jedeikin, CEO and Co-Founder of TradAir. “With this latest round of funding, we see a direct path toward global expansion.”
TradAir will utilize the proceeds to expand its global business lines: flagship FX platform, world-class graphical user interface (GUI), repo platform, crypto platform, and FX Network. The Company will add key leaders to ensure seamless execution during its rapid phase of growth and will expand its sales and marketing teams as they build upon a record of providing TradAir customers with a level of service that is second to none. As a part of the Series D round, the new investors will have a seat on the TradAir Board of Directors.