Saphyre Secures $18.7M Series A From J.P. Morgan, BNP Paribas & HCAP Partners

Funding led by HCAP Partners will support product development and the ongoing expansion of interoperability programs.

PRESS RELEASE — NEW YORK and PARIS, March 22, 2022 /PRNewswire/ — Saphyre, Inc., a leading FinTech company that leverages patented AI technology to structure all pre-trade data while eliminating post-trade inefficiencies, is pleased to announce the successful completion of its Series A round of $18.7 million, led by HCAP Partners, with J.P. Morgan and BNP Paribas participating in the round. Terms of the investment were not disclosed.

Saphyre’s AI-powered platform enables direct collaboration between multiple financial parties related to the same client. The platform digitizes all pre-trade data and documents, eliminating redundant manual processes and allowing for secure, expedited access to data throughout the trade lifecycle. Since its launch in 2017, Saphyre has received 104 issued patents and has been integrated with seven different platforms as part of its interoperability design. The company secured clients comprising thousands of accounts with over $3 trillion in assets under management.

The Series A funding will be used to accelerate Saphyre’s product development initiatives in both its pre-and post-trade offerings, as well as to support its ongoing expansion of interoperability initiatives with a number of other fintech/vendor solutions in the industry.

Gabino Roche, Saphyre’s CEO and Founder, stated, “It’s an honor to be strategically supported by HCAP, J.P. Morgan and BNP Paribas. Today’s announcement is a testament to years of hard work and the development of a best-in-class suite of products. This funding will accelerate the rollout of our firm’s offerings and ability to further prove that, in leveraging Saphyre’s patented technology in pre-trade wins, you instantly gain post-trade competitive advantages as well as operational benefits.”

Naveen TV, Managing Director, J.P. Morgan’s Securities Services said, “J.P. Morgan was an early adopter of Saphyre and we’re delighted to continue supporting them on their journey to create market-leading onboarding workflow. We believe in driving industry change to enable better collaboration tools for our clients, our peers and ourselves, and Saphyre’s technology is helping do that. We are proud to support Saphyre to further build scale in the industry.”

Joe Bonnaud, Global Markets COO and Head of Engineering, said, “As a leading European Global Markets house, we are proud to partner with Saphyre in delivering innovation and transforming the client experience. Technology is a cornerstone of our growth ambition and by partnering with leading fintech firms we aim to harness powerful, scalable collaboration solutions for the benefit of our clients globally.”

Tim Bubnack, Managing Partner at HCAP Partners, commented, “Saphyre has developed an industry-leading software platform that organizes unstructured data and documents and automates activities in the end-to-end trade life cycle; from pre-trade, through trading, and post-trade. In addition, management has created a workplace culture grounded in values that align well with HCAP and our Gainful Jobs Approach™️. We are pleased to partner with the Saphyre team and its strategic partners in the next stage of the company’s growth.”

About Saphyre:

Saphyre leverages patented AI technology to digitize all pre-trade data and activities across multiple counterparties: from asset owners to investment managers, hedge funds to prime brokers, any client firms to broker-dealers and custodians, and much more. Saphyre’s platform maintains memory of data and documents, resulting in clients not having to search or resubmit information, and expedites flow in a digitally structured manner so that it can be consumed and understood by any permissioned counterparty in the finance industry. This allows firms not only to assess risk faster but they can speed up their onboarding processes, get real-time ready-to-trade statuses per account, and eliminate 70%-75% of redundant or inefficient post-trade activities. Learn more at https://www.saphyre.com.

About J.P. Morgan’s Corporate & Investment Bank:

J.P. Morgan’s Corporate & Investment Bank is a global leader across banking, markets and securities services. The world’s most important corporations, governments and institutions entrust us with their business in more than 100 countries. With $33 trillion of assets under custody and $717 billion in deposits, the Corporate & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world. Further information about J.P. Morgan is available at www.jpmorgan.com.

About HCAP Partners:

HCAP Partners was founded in 2000 and is a provider of mezzanine debt and private equity for underserved, lower-middle market companies throughout California and the Western United States. The firm seeks to invest $3 million to $25 million in established businesses generating between $10 million and $100 million in revenues in the healthcare, software, services, and manufacturing industries. HCAP Partners has invested in over 50 companies since its founding and through ongoing, active engagement with portfolio companies provides value-added resources to help optimize performance and increase enterprise value. The firm has been recognized as an ImpactAssets 50 fund eight years running and, through its Gainful Jobs Approach™, works to facilitate a positive impact on underserved businesses, their employees, and their communities through active portfolio engagement. For more information, please visit http://www.hcap.com/.

About BNP Paribas:

BNP Paribas is the European Union’s leading bank and key player in international banking. It operates in 68 countries and has more than 193,000 employees, including nearly 148,000 in Europe. The Group has key positions in its three main fields of activity: Retail Banking for the Group’s retail-banking networks and several specialized businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realize their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated retail-banking model across several Mediterranean countries, Turkey, Eastern Europe as well as via a large network in the western part of the United States. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group’s performance and stability.

Media contact: Stephen Roche, stephen.roche@saphyre.com

SOURCE Saphyre, Inc.; JP Morgan; BNP Paribas; HCAP Partners