Financing to support rapid growth of advanced financial analytics platform offering
Vancouver, BC, April 11, 2019 – FINCAD, the leading provider of enterprise solutions for derivative and fixed income portfolios today announced it has secured US$12 million of financing to support the rapid growth of its advanced F3 enterprise analytics solutions business.
The growth financing was led by Vistara Capital Partners, as it continues to support leading Canadian growth stage technology companies, as a core part of its North American wide investment platform.
FINCAD’s award winning F3 enterprise analytics platform is an advanced solution providing industrial strength support for modeling, pricing, valuation, and risk management of portfolios in all asset classes. It offers the built-in functionality and ease-of-use of off-the-shelf software, combined with unlimited flexibility to customize to a firm’s specific trading strategy, workflow and reporting requirements. It also integrates seamlessly with existing systems and data sources.
“We realized the available solutions on the market could not offer the flexibility needed to cope with today’s wide range of new regulations, risk management challenges and market changes like the impending phaseout of the Libor benchmark rate,” said FINCAD president and CEO, Bob Park. “So, we set out to create a future-proof platform that could enable asset managers, hedge funds, insurance companies, pension funds, banks and others to overcome these challenges. In fact, one reason why F3 is so ground-breaking is that it offers infinite flexibility for users to easily extend the solution with new models, methods or instrument coverage as needed, but within a controlled environment,” he added.
This builds on 2 years of strong sales growth as FINCAD is seeing growing demand across both the buyside and sellside for valuation and risk solutions that are transparent and flexible. “I am pleased to say that over the past 2 years, our F3 bookings have doubled. These funds allow us to accelerate the execution of our strategic plan to grow our enterprise solutions business while continuing to support the analytic needs and the success of our hundreds of existing clients,” Bob remarked.
“I have had a relationship with FINCAD’s leadership team for almost a decade and during that time, have tracked the evolution of F3 enterprise technology from invention to its commercial maturity. FINCAD is the kind of globally successful company that Vistara is enthusiastic about supporting,” said Randy Garg, Founder and Managing Partner of Vistara Capital Partners, who along with John O’Donoghue will become Observers on FINCAD’s Board of Directors.
FINCAD is the leading provider of valuation and risk solutions for derivative and fixed income portfolios. An industry standard since 1990, our advanced analytics, flexible architecture and patented technology enable better investment and risk management decisions. We are committed to helping our clients solve their toughest challenges, without compromise. Clients include leading global asset managers, hedge funds, insurance companies, pension funds, banks and auditors. For more information, visit www.fincad.com.
About Vistara Capital Partners
Headquartered in Vancouver BC, Vistara Capital Partners provides highly flexible and tailored technology growth capital solutions for companies across North America. Founded, managed, and funded by seasoned technology finance and operating executives, “Vistara” (Sanskrit for “expansion”) is focused on enabling the growth and expansion of its portfolio companies. Additional information is available at www.vistaracapital.com.