GLMX, a NYC-based comprehensive technology solution for the trading of repurchase agreements (“repo”) and secured lending, raised $20m in growth equity financing.
The round was led by Sutter Hill Ventures, with participation from Otter Capital and Tippet Venture Partners.
The company intends to use the funds to expand its operations into major European markets and grow its engineering team.
Founded in 2010 by Glenn Havlicek, CEO, GLMX has developed proprietary technology which provides an integrated global money market trading solution for institutional participants. The system provides a request-for-quote (“RFQ”) based buy-side-to-dealer trading platform built to enhance the relationship between buy-side and sell-side counterparties, and address the need for an efficient repo trading infrastructure, particularly in light of increasing regulatory reporting requirements.
The company has offices in NYC, Palo Alto and London.