Information Mosaic raises €4.5m in equity - Companies | siliconrepublic.com - Ireland's Technology News Service
Summary
The Irish-based developer of middle and back office solutions for the securities industry Information Mosaic has raised €4.5m in equity capital from investors that include the pension funds division of Swedish bank SEB AB. “As major financial institutions have refocused their strategies, so too have we”, explained Information Mosaic’s managing director, John Byrne. Many leading global custodians and international investment managers are increasingly re-engineering or outsourcing their middle and back office. In response, as leaders in this emerging market we have developed middle and back office solutions capable of offering outsourcing large parts of the securities business.” Information Mosaic’s customers include SEB, Royal Bank of Canada, Citigroup, Rabobank and Brown Brothers Harriman, the oldest investment bank in the US. The funding we have received combined with new business developments will ensure that we have resources to maintain our leadership position in this market,” Byrne said.