TradAir has completed an $11 million Series D round, led by new investors GF Investments and the family office of Harvey Golub, former chairman and CEO of American Express.
Existing investors, including Long Ridge Equity Partners and Viola Ventures, continued with their support and added to their investment in the round.
Although it has not publicly released details of its finances, TradAir claims that it has increased its revenue growth by 45% in the past year.
“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,” says Ayal Jedeikin, CEO and co-founder of TradAir. “With this latest round of funding, we see a direct path toward global expansion.”
TradAir plans to utilise this new funding to expand its global business lines: its FX platform, graphical user interface (GUI), repo platform, crypto platform, and FX Network. The firm also plans to hire additional staff to help manage its growth, with plans to expand its sales and marketing team. As part of the Series D round, the new investors will have a seat on the TradAir board of directors.