Menu visibility control

Video

Events

Startup Surgery

Most Recent

Tech City Voices

AI and the legal sector: Opportunities, challenges and predictions

Need to Know

Q&A: Simon Freeman of Freestak on securing Angel investment, Brexit and overcoming ‘impostor syndrome’

News

Startup Weekly: New Milton Keynes tech accelerator, MassChallenge demo day & more

Press Releases

Chimni calls for the UK proptech community to work more closely with the housebuilding industry
Blockchain Conference: Blockchain Expo announces Berlin and North America dates
Neyber calls on government to cut excessive credit costs for UK employees

London FinTech startup Babel Systems acquired by InvestCloud for $20m

Finance
twitterlinkedinFacebookgoogle_plustwitterlinkedinFacebookgoogle_plus

Babel Systems, a processing platform for online trading, has been acquired by Californian finance software provider InvestCloud for $20m.

Founded in 2008, the London-based startup processes equities, bonds and funds whilst ensuring regulatory compliance. The transaction will link InvestCloud’s digital platform with Babel’s trading and accounting capabilities to provide a solution for financial services companies.

Headquartered in Los Angeles with offices in San Francisco, New York, Tampa and London, InvestCloud supplies investment businesses with custom digital software solutions. This includes brokers, hedge fund administrators, custodians, asset managers and wealth managers.

Babel Systems acquired for $20m, Snapchat makes London its non-US home & more in the Week in Tech

The firm’s clients can choose from a series of applets including client communications, operational management accounting and real-time analysis to assemble their own cloud solution. InvestCloud claims to provide custom financial solutions to over 130,000 users on the cloud.

John Wise, chairman and CEO of InvestCloud, commented: “InvestCloud needed an extremely high-volume and low-cost trading and accounting (book-keeping) solution designed for the cloud. Babel is the answer.

“Babel is designed for the international market and is the most modern platform in the world designed for robo and wealth; however, it’s also versatile and can be applied to all major financial markets,” he added.

Raising over $100m since 2010, InvestCloud also has on board the likes of JPMorgan, which purchased an undisclosed stake of the business last year.

Mark Trousdale, executive vice president of marketing at InvestCloud, concluded: “Further to our recent announcement of being selected by JPMorgan for digital solutions and as PwC’s strategic digital platform, this deal completes the whole product solution.”

Enter your e-mail address to receive updates straight to your inbox

* indicates required
Send me news on...
twitterlinkedinFacebookgoogle_plustwitterlinkedinFacebookgoogle_plus

Editor's picks

legal robot

AI and the legal sector: Opportunities, challenges and predictions
posted 11 hours ago

Freestak

Q&A: Simon Freeman of Freestak on securing Angel investment, Brexit and overcoming ‘impostor syndrome’
posted 13 hours ago

Startup Weekly (3)

Startup Weekly: New Milton Keynes tech accelerator, MassChallenge demo day & more
posted 15 hours ago

TWIT Emily 19th Jan 2017

Gilo Industries gets $30m, Deliveroo creates 300 new London tech jobs & more in the Week in Tech
posted 19 hours ago

Tech talent

How your employees can play a role in attracting the best tech talent
posted on January 19, 2017

Antenna

Birmingham University spinout Smart Antenna Technologies secures £1m
posted on January 19, 2017