NEW YORK, NY--(Marketwired - May 09, 2017) - Broadway Technology, a leading provider of high-performance software and infrastructure for global financial institutions, announced today that it has closed a $42 million minority investment led by Long Ridge Equity Partners. The financing will accelerate Broadway's growth into new global markets and will allow the company to further expand its world-class product and service offering.
Founded in 2003, Broadway provides mission-critical trading solutions for top global, regional, and national banks, brokers, and hedge funds. Leveraging its core technology platform, the TOC, Broadway's solutions handle over $100 trillion of trading volumes annually within the fixed income and foreign exchange markets.
Broadway's unique combination of next-generation fintech applications and unifying infrastructure enables its clients to adapt to dynamic competitive and regulatory trends. The TOC, Broadway's data-oriented architecture, enables seamless integration of legacy software systems, unprecedented visibility into and control over enterprise data, and a wide range of large integrated business applications.
"We are excited to partner with Long Ridge as we enter our next phase of growth," Broadway CEO, Tyler Moeller, said. "We chose Long Ridge as a partner due to their unparalleled expertise in capital markets technology and strong track record of investing in leading financial technology firms. Long Ridge's capital and strategic support will enable Broadway to accelerate our global expansion and continue our rapid growth, while delivering powerful new functionality and top-tier services to our existing customers."
"Broadway provides industry-leading FX, fixed income, enterprise, and regulatory technology solutions to the world's largest financial institutions," said Kevin Bhatt, Long Ridge Partner. "The company is well positioned to take advantage of a rapidly evolving capital markets landscape with its advanced, flexible solutions and world-class development capabilities. We look forward to working closely with the Broadway team as they continue to penetrate new and existing geographies, customers, and asset classes."
Long Ridge's prior experience investing in the capital markets technology space includes Portware, Liquidnet, Currenex, and FXCM. In connection with the investment, Jim Brown and Kevin Bhatt of Long Ridge Equity Partners will join the Broadway Board of Directors.
Signal Hill served as financial advisor and Dentons US LLP served as legal counsel to Broadway. Budd Larner served as legal counsel to Long Ridge.
ABOUT LONG RIDGE EQUITY PARTNERS
Founded in 2007, Long Ridge Equity Partners is a private investment firm focused on the financial services industry. Leveraging deep sector knowledge and an extensive network of industry resources, Long Ridge serves as a value-added partner to high-growth financial services businesses. Over the last fifteen years, Long Ridge's principals have sponsored some of the most successful growth companies in the financial sector, providing strategic resources and capital to drive profitable expansion. Long Ridge has raised over $400 million of committed capital for investment in the financial services sector.
For more information on Long Ridge Equity Partners, please visit www.longridgecap.com.
ABOUT BROADWAY TECHNOLOGY, LLC
Broadway Technology is a leading provider of high-performance fintech solutions and infrastructure to top global, regional and national banks; brokers; and the buy-side. Founded in 2003 by experts in enterprise software and quantitative trading, Broadway has employees worldwide with offices in New York, Austin, London, and Waterloo.
To learn more about Broadway, please visit: www.broadwaytechnology.com or contact Broadway at: info@broadwaytechnology.com
Contact Information:
Media Contact:
Melissa McTernan
Broadway Technology
pr@broadwaytechnology.com
+1.646.912.6450