CloudMargin has closed its largest funding round to date, making $15 million in a Series B capital raise.

The primary investors were Deutsche Börse and current clients Deutsche Bank and Citi.

The cloud-native collateral and margin management solution will use the money to further innovate its platform and technological capabilities. In addition, the firm intends to expand its sales and client service capabilities in the US and Asia to meet greater demand.

CloudMargin chief executive Stuart Connolly said: “For financial services institutions, the impact of COVID-19 has further reinforced our value proposition by highlighting many challenges the industry has faced for a prolonged period and acting as a catalyst to drive transformational change; firms are placing a strategic priority on adopting modern, Software-as-a-Service based cloud technologies that provide agility as well as operational and cost efficiencies.”

Since the company’s inception in 2014, it has raised $35 million through equity issuance, with investors including IHS Markit, Jefferies and Illuminate Financial.

Joseph Macdonald, director for fixed income and currencies trading at Deutsche Bank, said: “We have been working closely together since we established our partnership in 2018 - our investment reflects our confidence in CloudMargin’s world-class platform and its future within the industry.”

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