Integral, a major trading technology provider to the buy-side firms, raised $30 million in growth financing from Canada’s Vistara Growth. The company will use the proceeds in its business expansion.
Integral’s Expansion amid Demand Rise
According to the press release yesterday (Thursday), the company will increase its headcount and strengthen its product roadmap. The expansion follows an increment in demand for its cloud-native services.
“At a time of growth and opportunity for Integral, Vistara has emerged as the perfect partner to support us financially through their investment and operationally through their network of dedicated professionals and strategic partners,” Harpal Sandhu, the CEO of Integral, said.
“The supportive relationship allows our team to focus on execution as we expand our market share and roll out new products globally.”
The Leader in FX Technology
Established in 1993, Integral primarily provides cloud-based SaaS FX workflow solutions and targets a broad range of buy-side forex market participants, including banks, brokers, asset managers, and hedge funds.
Last year, the company expanded into crypto by launching industry-specific technology solutions. It developed the crypto services in partnership with Mint Exchange, an institutional crypto exchange. The services include aggregation and connectivity to liquidity providers, desktop and mobile client trading, risk management, and hot and cold storage custody solutions.
“We have seen across global markets that banks and financial institutions have continued to rapidly replace many of their legacy on-premise systems or internally built solutions, and Integral is well positioned to solve the cloud-adoption needs for the capital markets and foreign exchange divisions with its modular SaaS platform,” Neil Kenley, the Principal at Vistara Growth (growth capital to software and technology services companies) said.
He highlighted that Integral adds value to “its customer base through its sophisticated workflow automation and liquidity aggregation capabilities.”
“At a time of growth and opportunity for Integral, Vistara has emerged as the perfect partner to support us financially through their investment and operationally through their network of dedicated professionals and strategic partners,” Harpal Sandhu, the CEO of Integral, said. “The supportive relationship allows our team to focus on execution as we expand our market share and roll out new products globally.”
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