Front-to-back office automation solution Lux has closed a $6m investment to fuel the company’s growth.
New York-based minority growth investor Credit Suisse Asset Management’s NEXT Investors provided the capital for the round.
The company’s technology is designed to help hedge fund firms automate a range of business processes. Lux provides solutions for research, portfolio management, accounting, operations, and investor relations.
This platform systemises the integration of traditional and alternative data from a range of sources, building cross-functional analytics reporting, which gives users access to exposure, performance, risk, and hard-to-mine data.
Credit Suisse global head of prime consulting Jeremy Siegel said, “LUX FTS provides a cost-effective and scalable reporting platform which allows end users to define and create reports on demand. The days of installing expensive data warehouses or waiting for a 3rd party to create a specific report are no longer sufficient in this fast-moving environment.”
Last month, Credit Suisse invested $200m in to SME lending platform Kabbage, to help support the company expand its AI-based business loans.
Due to a colossal Q2 2017, this year has seen a big rise in capital to the North American infrastructure and enterprise software sector. The first three quarters alone, have nearly seen double the capital than the whole of last year.
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