Menu visibility control

Video

Events

Startup Surgery

Most Recent

News

Top Tech Stats: Rising ransomware, praise over pay and much more

News

Startup Weekly: IKEA Bootcamp, Nesta’s ShareLab Fund and much more

Government & Policy

Theresa May: Tech giants should be encouraged to do more to fight online extremism

Press Releases

Zzish hits £1.15m funding target on Crowdcube for technology that will democratise quality education and move the needle on learning
Okappy announces the launch of its investment pitch on the AngelsDen equity crowdfunding platform
Recruitment disruptor talent.io poised for further growth with €8m investment secured

Software firm Perfect Channel gets £2m from Beringea and UIL Limited

money pounds
twitterlinkedinFacebookgoogle_plustwitterlinkedinFacebookgoogle_plus

Software startup Perfect Channel has closed a £2m funding round from its long-term backer Beringea and new investor UIL Limited.

The London-based firm, which has created an auction and trading platform for companies operating marketplaces in commodities and financial assets, will use the funds to continue developing its product.

Today’s announcement comes after Perfect Channel appointed its new CTO, Jim Leeds, in January.

London MarTech firm Yieldify gets $6m

Phil Bird, CEO at Perfect Channel, commented on the news: “2016 was a particularly successful year for us – we delivered solid financial results, made significant strides in advancing our technology through the launch of the GDT Marketplace, and reaffirmed our commitment to innovation by appointing Jim Leeds as our new CTO.

“Jim brings invaluable experience in software development of cross-asset trading and risk management. He has previously led product innovation at Openlink Financial, including its transition to the cloud. He will be pivotal to the continued innovation of our product portfolio and building on the momentum we have created so far,” he added.

Eyal Malinger, investment director at Beringea, added: “With half of the commodities sector significantly affected by limitations to traditional, expensive, slow and intermediated trading models, this is clearly an industry ripe for innovation.

“Perfect Channel’s track record of success with clients across a wide range of sectors, and its impressive growth in revenue and headcount through 2016, mean that we are delighted to extend our investment to support continued product development and expansion. We’re also pleased to welcome UIL as a co-investor, and look forward to working together in the future,” said Malinger.

Perfect Channel had previously closed a £2m Series A in July 2014, followed by an additional £1m Series A in December 2015.

Enter your email address to receive updates straight to your inbox

* indicates required
Send me news on...
twitterlinkedinFacebookgoogle_plustwitterlinkedinFacebookgoogle_plus

Editor's picks

Top tech stats

Top Tech Stats: Rising ransomware, praise over pay and much more
posted 17 hours ago

Startup Weekly

Startup Weekly: IKEA Bootcamp, Nesta’s ShareLab Fund and much more
posted on May 26, 2017

Theresa May

Theresa May: Tech giants should be encouraged to do more to fight online extremism
posted on May 26, 2017

Alfa Financial completes ‘largest UK tech listing in almost two years’
posted on May 26, 2017

Tim Farron, Liberal Democrats

The Liberal Democrats Manifesto: what does it mean for UK tech?
posted on May 26, 2017

Startup team

A £20m Series B, Microsoft’s new Surface Pro, mermaid emojis and more in The Week in Tech
posted on May 26, 2017