ORIX Ventures, Comerica Bank, BBH Capital Partners and Edison
Ventures Lead Latest Round to Support Client Demand and Strategic
JERSEY CITY, N.J.--(BUSINESS WIRE)--
a Global FinTech 100 technology provider of information-enabled software
dedicated to transforming complex information and processes into
intuitive user experiences for the financial services industry,
announced today it has secured a $20 million round of funding to support
the company’s continued growth driven by its broadening client base and
The capital raise included debt financing provided by Comerica Bank
(Comerica) and ORIX Ventures (ORIX), as well as an additional follow-on
equity round led by Scivantage’s existing investors Brown Brothers
Harriman Capital Partners (BBH Capital Partners) and Edison Ventures.
This represents a new venture debt deal from ORIX and a recommitment
from Comerica, BBH Capital Partners and Edison Ventures. The investment
will be used to provide growth capital to Scivantage and enable the firm
to focus on continuing to expand its footprint in the financial services
industry through various development initiatives.
”Our increased investment in Scivantage reflects our continued
confidence in the company’s future growth prospects and its ability to
develop truly unique and innovative products for financial
institutions,” said Jeff Meskin, Co-Manager at BBH Capital Partners.
“Scivantage has a proven management team, strong partnerships, deep
client relationships, and a clear roadmap of its future – key
characteristics we value in our investments,” said Chris Sugden,
Managing Partner at Edison Ventures.
“We have followed Scivantage for a few years and have recognized the
strength of their enterprise. They have demonstrated the clear shift of
banks, brokerages and investment professionals increasingly adopting
cloud-based, innovative software solutions,” said William Bishop,
Co-Head and Managing Director, ORIX Ventures.
“The fact that BBH Capital Partners and Edison Ventures increased their
current stake in Scivantage and Comerica renewed its current debt
facilities with us, demonstrates our financial partners’ confidence in
our brand and our vision for the future of the company,” said Adnane
Charchour, CEO and President, Scivantage. “We welcome the addition of
ORIX as a new financial partner, strengthening our ability to accelerate
the delivery of innovative solutions to the financial services industry.
Scivantage has continued to evolve to meet the complex needs of our
clients and this recent injection of capital will empower us to further
build on the success we have had to date.”
Scivantage® is a Global FinTech 100 technology provider of
information-enabled software dedicated to transforming complex
information and processes into intuitive user experiences for the
financial services industry. With proven expertise in online brokerage,
tax and portfolio reporting, and wealth management applications,
Scivantage delivers intelligent and actionable information that goes
beyond the boundaries of traditional financial software, helping improve
investment decisions. Leading financial institutions, including
broker-dealers, mutual fund companies, bank custodians, trust and prime
brokers, depend on Scivantage’s cloud-based technology to achieve
critical business insights, generate new revenue and build stronger
customer relationships. For more information, please visit www.scivantage.com
or contact us at +1.866.724.8268.
Director, Marketing Communications