Kooltra, a fintech startup founded in 2012 and building a multi-layered capital markets platform on Force.com and Amazon Web Services, has launched a flexible SaaS solution to fast-track the entry of new broker participants in the FX market.
The provider of cloud-based middle and back office technology for foreign exchange chose to address the lack of evolution in back office technology despite the continued growth in global volumes by proposing its proprietary solution that accelerates go-to-market while eliminating much of the high financial burdens of implementing and maintaining traditional infrastructure.
Adam Katz, Chief Executive Officer and Founder at Kooltra, commented:
“For years, innovation in capital markets has focused on the front end while post-trade operations have been largely ignored. Brokers are handcuffed into multi-year, multi-million dollar contracts for systems that can take two years to stand up. Our mission at Kooltra is to fix this problem with a ‘plug-and-play’ back office system that lets our customers start running their FX businesses in a few weeks.”
Going by the name of FXCore, Kooltra’s platform is an alternative solution which provides secure cloud-based data storage and an intuitive, easy-to-use interface, to seamlessly integrate with multiple trading platforms and liquidity providers and scale to accommodate growing trade volumes.
Headquartered in Toronto, Canada, Kooltra has recently opened an office in London to service its growing UK and European customer base who can benefit from the firm’s comprehensive delivery, from configuration to implementation to training, across all client workflows and integrations throughout the trade lifecycle.
The company has recently raised C$6.5 million from 4 investors in a Series A round led by Hyde Park Venture Partners. During its time operating within the trading industry, Kooltra has gathered enthusiasts, including Andy Herriot, CEO at Monsas.
“Kooltra has changed the FX space dramatically. We were able to go live very quickly with a competitive solution and have been thoroughly impressed with Kooltra’s level of service.”
ATFX, the retail FX broker which has been in an intense round of hires including Marcos Tigsilema as Commercial Director and Mohamed Halim as Senior VP for MENA region, has deployed Kooltra’s technology as well.
Wei Zhang, Chief Executive Officer at ATFX, said: