Velocity Systems International Pty, a developer of innovative software that integrates bank, broker and client-side FX dealing technology, has raised a round of funding from two new partners – Pentech Ventures and TL Ventures.
Pentech Ventures focuses on technology companies in the Internet, enterprise software, e-commerce, telecommunications software, digital media, social media and mobile sectors.
TL Ventures invests in companies in the software, information technology infrastructure and services, communications and biotechnology industries.
This new capital has allowed the company to expand its product range and invest in new infrastructure to support its growing client base. To support the wider geographic reach of its client base, Velocity is moving its headquarters to London and hire additional employees.
The round coincides with the change of its name: the company will be known as Velsys Limited.
As a part of the transformation, Stewart Millman, was named as Chairman of the company’s board of directors. He was previously Chairman of PatSystems plc and Leadcom, an Israeli company providing telecom deployment services, and is now a non-Executive Director of MTIW Wireless Edge, all traded on AIM, as well as some private companies.
The company also operates an office in Adelaide, Australia