Genesis, an international capital markets software firm, has raised a $3m Series A from Illuminate Financial, a UK VC firm; and Tribeca Angels, a New York venture group.
Founded in 2015, Genesis was co-founded by Stephen Murphy and James Harrison.
Murphy, also the CEO, spoke about the state of the industry.
“Capital markets infrastructure is on the cusp of change, driven by new market and business opportunities, along with increasing regulation and cost. The industry is waking up to the necessity for digitisation. We set up genesis in the belief that there is a better way for firms to adapt to industry changes and the digital transformation happening across capital markets, to unshackle themselves from the frustrations of legacy systems and need a smarter way to be able to innovate at speed.”
He continued: “As we gear up for our next stage of growth, we are delighted to have secured our Series A funding with Illuminate Financial and Tribeca Angels, both with a strong track record in backing innovative firms that are transforming the markets. We believe their investment is testament to our potential and comes at a time of accelerating momentum.”
Commenting on the funding, Mark Beeston, managing partner and founder of Illuminate Financial, said: “Market structure has been evolving to a series of best in class business solutions for some time which increasingly depends on the fast delivery of technology based on a microservices framework.
“We believe genesis has created the only fit for purpose foundational layer of microservices. We are excited not only by their potential for delivering solutions to real business problems at great speed today, but also the opportunity they present for exciting innovation in the future.”
Tribeca Angels invests in innovative, fast-growing FinTech companies, explained Paul Walker, member of Tribeca Angels.
“We chose to invest in genesis because we understand that the combination of a rapid innovation technology platform, client success, and a high quality pragmatic team make for a very compelling investment. When we invest, we invest for the long term and we look forward to our collaboration.”