Fintech Chasing Returns secures €600k
Irish fintech Chasing Returns closed a €600,000 funding round last week, attracting investors from Goldman Sachs and JP Morgan as well as a number of Irish tech entrepreneurs.
The fintech company, which builds risk management solutions for financial traders, said that the funding round had been over-subscribed. The company now has 20,000 traders in 82 countries on its platform, including a large deployment with Canadian-based FX broker OANDA.
The investment will be used to fund the continued expansion of the business and develop new products, and the company will take on eight new staff members at its Dublin office. It will also open a satellite office in London and expand into Asia.
Set up in 2014 by Ann Hunt, Chasing Returns claims that its technology "analyses performance history to help traders understand their individual psychological strengths and weaknesses and turn it to their advantage."
Before establishing Chasing Returns, Hunt spent 10 years working on Wall Street for JP Morgan building risk management platforms and another five years as an independent trader.
Hunt said: "Recent achievements represent a strong endorsement of our business. User numbers have trebled over the past six months as we move into new territories and we look forward to taking this momentum forward."
Investors in the company include chairman Ivan Fox, who in 2014 led an MBO of Merrion Capital with Pat O'Neill.
Sunday Indo Business