genesis, the international capital markets software firm, today announced the completion of its Series A financing round, securing a total of $3m from Illuminate Financial, a U.K. based capital markets venture capital firm and Tribeca Angels, a New York venture group.
genesis was founded in 2015 by Stephen Murphy and James Harrison, who have held senior roles at leading investment banks and capital markets software vendors around the world. Confident that the industry needed a different approach to innovation, genesis has dedicated the past 4 years to building a microservices technology framework designed specifically for the world of capital markets. This technical framework helps clients from buy-side, sell-side, execution venues and clearing houses address the many varied and highly complex industry challenges. These range from meeting wide-reaching regulatory requirements, to finding ways to optimise cost and relieve margin pressure; from developing tightly defined products and solutions to wholesale reframing and reimagining business models. Whatever the requirements, capital markets institutions are all being challenged to digitise in order meet the demand for smarter end-to-end workflows and deliver real-time, valued insights.
genesis’ microservices framework enables the development and deployment of a range of agile, scalable and robust products and solutions quickly and efficiently, slicing production times from months – or in some cases, years – to a matter of weeks.
Commenting on the funding, Mark Beeston, Managing Partner and Founder of Illuminate Financial, said:
We focus on finding and funding enterprise solutions that will effect real change within the financial markets industry. 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 that 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, a U.S. network of entrepreneurs and business leaders with deep domain expertise in institutional finance and enterprise technology joined the investment round.
Paul Walker, Member of Tribeca Angels, added:
Tribeca Angels invests in innovative, rapidly growing FinTech companies. 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.
Stephen Murphy, Chief Executive Officer of genesis, said:
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.
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.
genesis is a global capital markets software company with a difference, offering a fresh approach to helping firms adapt and innovate their business and operating models in an ever-challenging, constantly changing environment.
Pioneering vision, coupled with our technical innovation, is at the heart of everything genesis does. Confident in our conviction, before even coming to market, we made a multi-year investment in building our microservices technology framework.
Whether buy-side, sell-side, execution venue or clearing house, firms call on genesis to help redefine operating models and deliver outstanding value and services. The experienced senior team has worked at leading financial institutions and capital markets software vendors around the world. Having a unique perspective into the issues facing the industry means genesis can challenge existing thinking and focus on providing clients with agile, scalable and robust solutions at speed.
Our strong product portfolio and investment roadmap allows us to collaborate with clients to offer a powerful combination of off-the-shelf and highly customised solutions.
genesis is an ambitious growth company and is proud that Illuminate Financial and Tribeca Angels have invested in our success.
For further information visit www.genesis.global
Illuminate Financial Management LLP is a venture capital firm that crosses the chasm between capital markets fintech and the financial institutions it should serve. The firm was founded in 2014 recognizing the growing importance of Fintech but questioning how much it was contributing to building more sustainable financial institutions. IFM have created partnerships with core strategic investors and a growing number of Capital Markets firms to gain real insight into what the market needs. We leverage this to find, validate and fund early stage companies and harnessing our extensive experience across banking, entrepreneurship and consultancy to help these companies achieve their full potential.
Tribeca Angels, a New York-based venture network of entrepreneurs and business leaders with deep domain expertise in institutional finance and enterprise technology. With approximately 50 accredited investors, Tribeca Angels has experience and perspective in virtually every facet of institutional finance. Once invested, they actively apply their expertise, networks and contacts to help early stage companies scale quickly.
Learn more at www.tribecaangels.com