New York
06 July 2017
Reporter: Stephanie Palmer

AxiomSL sees boost from strategic investment


Data management and regulatory reporting technology provider AxiomSL has received its first institutional financing, with a strategic investment from TCV.

The investment is the first AxiomSL has seen since it was founded in 1991, and is intended to help the company accelerate its growth.

TCV specialises in providing capital for growth-stage technology companies. Rick Kimball, founding general partner of TCV, and Nari Ansari, principal at TCV, will join the AxiomSL board of directors.

Alexander Tsigutkin, group CEO of AxiomSL, said: “We selected TCV as our first institutional investment partner given their experience in helping financial technology companies achieve their mid- to long-term growth and strategic objectives.”

He added: “Partnering with TCV will allow AxiomSL to continue our mission of empowering firms to address increasingly complex, granular, and data-intensive regulatory regimes and requirements.”

Kimball said: “Over more than 25 years, AxiomSL has achieved clear market leadership for global risk and compliance data management technology in the financial services industry.”

Ansari added: “The data governance and reporting issues that financial institutions face are only increasing in significance and complexity.”

He said: “Simultaneously, cost and compliance pressures are causing firms to automate and standardise their procedures throughout their organisations. AxiomSL’s innovative platform and solution set enables clients to address both challenges in a flexible and transparent way.”

More Industry news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Tadawul initiates new measures for market efficiency
16 January 2018 | Riyadh | Reporter: Jenna Lomax
The Saudi Stock Exchange Tadawul has implemented new measures in an effort to raise market efficiency, boost investor access, security and liquidity
SWIFT and CSDs join forces on proxy voting DLT
15 January 2018 | Brussels | Reporter: Jenna Lomax
SWIFT and seven CSDs have partnered to explore how distributed ledger technology could be implemented in proxy voting and for digital assets
Lombard Risk share prices soars after Vermeg takeover offer
12 January 2018 | London | Reporter: Zsuzsa Szabo
Dutch financial software provider Vermeg has set its sights on acquiring Lombard Risk with a £52.08 million cash for shares offer
SS&C Technologies snaps up DST
11 January 2018 | Connecticut | Reporter: Becky Butcher
SS&C Technologies Holdings has entered into an agreement to acquire DST
ESMA delays publication of DVC data
10 January 2018 | Paris | Reporter: Jenna Lomax
ESMA has delayed the publication of the data on the DVC mechanism for January to avoid creating an unlevel playing field
MiFID II has shrunk equity research by $300 million, says study
10 January 2018 | Connecticut | Reporter: Jenna Lomax
Greenwich Associates estimated that the 2017 European research/advisory pool currently stands at $1.35 billion
Apex snaps up M.M.Warburg & Co
09 January 2018 | Bermuda | Reporter: Becky Butcher
Apex Group have acquired M.M.Warburg & Co’s asset management and servicing business in Luxembourg
More Industry news