Calastone, a London, UK-based transaction network for the global funds industry, raised $18m in funding.
The round was led by Accel Partners, with participation from Octopus Investments. In conjunction with the funding, Sonali De Rycker, Partner at Accel Partners, joined Calastone’s board.
The company intends to use the funds to accelerate its global growth strategy, with a focus on Asia Pacific and Europe, in addition to expanding its product range.
Launched in 2007 and led by Julien Hammerson, Chairman and CEO, Calastone is an independent cross-border transaction network that enables any party involved in the production, distribution or management of funds to transact electronically, regardless of size or location.
It offers a range of services including order routing, settlement, reconciliations and valuations, re-registrations, trade notifications, pricing reporting, BIC Hosting, e-Dealing and STP consulting to support customers in their move towards STP efficiency.
Calastone now has more than 450 clients and 4,200 network connections.
FinSMEs
11/09/2013