Transcend, a NYC-based provider of liquidity, funding, and collateral optimization solutions, received an investment from Citi.
The amount of the deal was not disclosed. Additionally, a long-term business agreement will enable Citi as a client to enhance the efficiency of how it deploys cash and collateral across its global network.
The company intends to use the funds to support the global roll-out of its solutions including its optimization technology.
Led by Bimal Kadikar, Founder and CEO, Transcend provides a solution that harmonizes and integrates activity across Bi-lateral, Cleared, and Triparty collateral requirements and allows allocation of the best collateral. It is used for analytics, optimization, and automation within a business line or across the enterprise. The company has a team of 145+ domain experts.
FinSMEs
15/11/2023