Doubles Client Base; Secures Commitments from First Two
Global Investment Banks; Achieves 250 Percent Annual Growth in
Collateral Agreements on Platform; Expands Strategic Partnership
with IHS Markit
LONDON, April 10, 2018
/PRNewswire/ -- CloudMargin, the award-winning creator of the
world's first and only collateral and margin management solution
native to the cloud, announced today the completion of a new round
of investment in the company totaling US$10
million to support the firm's rapid growth. The new
investors are LVC, the venture investing arm of Leucadia National
Corporation (NYSE: LUK), the publicly traded investment holding
company and parent of Jefferies, the global investment banking
firm; and IHS Markit (Nasdaq: INFO), a world leader in critical
information, analytics and solutions. Existing investors, including
Illuminate Financial Management, also participated in the
round.
In addition, CloudMargin significantly expanded the scope of its
commercial alliance with IHS Markit announced last June. This will
enhance the ability of IHS Markit to provide a more seamless and
comprehensive suite of collateral management services to its
customers.
"CloudMargin had the foresight to disrupt the industry with an
innovative collateral solution native to the cloud that is robust,
agile and cost effective," said Ed
Chidsey, Managing Director and head of pricing, valuations
and reference data at IHS Markit. "These were key factors in
our decision to not only to invest in the company, but to embrace
them as a strategic commercial and technology partner as well."
"We are pleased to partner with CloudMargin in its next phase of
growth," said Raphael Bejarano,
Managing Director at Leucadia and Head of LVC. "The firm's deep
market expertise and world-class product position CloudMargin as
the preferred solution across the capital markets to manage
increasingly complex collateral and margin requirements."
CloudMargin has more than doubled its client base over the past
12 months, adding global and regional asset managers, sell-side and
regional banks, hedge funds and insurance brokers in Europe, the US and Asia Pacific. In addition, CloudMargin has
received commitments from its first two global investment banks and
expects both to be live by the end of the calendar year. This
will lead to further rapid growth in this networked environment of
sell-side and buy-side firms. CloudMargin has achieved 250 percent
annual growth in the number of collateral agreements hosted on its
award-winning platform and expects this growth to continue.
"We are delighted to have the support of LVC and IHS Markit,
which bring complementary and critical value to our firm and our
clients," said CloudMargin CEO Steve
Husk. "This investment allows CloudMargin to continue to
provide unique value in the marketplace and capitalize on the
significant demand from sell-side and buy-side capital markets
participants for our solution. As CloudMargin remains the only
native cloud-based offering in the space, we are ever-focused on
improving the platform continuously while leveraging its
accessibility, pricing flexibility and community that can be
harnessed only with cloud technology."
The investment will finance product development and growing
connectivity to industry infrastructure. It will also help scale
the company's sales, partnerships and marketing efforts in both
established and new regions.
About CloudMargin
Headquartered in London,
CloudMargin created the world's first cloud-based collateral
management workflow tool, which has earned more than a dozen
different industry awards since 2015 for innovation and
best-in-class technology. The firm's Software-as-a-Service (SaaS)
model is helping many of the leading financial institutions
globally – including exchanges, brokerage firms, banks, asset
management firms and insurance companies – meet time-critical
regulatory deadlines and reduce costs associated with collateral
requirements that are growing dramatically. CloudMargin bypasses
many of the shortfalls of legacy, on-premise software, enabling
clients to experience rapid implementation and access to robust and
secure collateral management workflow software. For more
information, visit www.cloudmargin.com.
About LVC and Leucadia
LVC is the venture investing arm of Leucadia National
Corporation, a diversified holding company that invests in a broad
array of businesses. Leucadia's financial services businesses and
investments include investment banking and capital markets
(Jefferies Group), asset management (Leucadia Asset Management),
real estate (HomeFed), online provider of foreign exchange trading
services (FXCM), commercial mortgage banking, investment sales and
servicing (Berkadia), and vehicle finance (Foursight Capital).
Leucadia's merchant banking businesses and investments include an
insurance and consumer products company (HRG Group), beef
processing (National Beef), oil and gas exploration and development
(Vitesse Energy and JETX Energy), automobile dealerships
(Garcadia), fixed wireless broadband services in Italy (Linkem), manufacturing (Idaho Timber)
and a gold and silver mine (Golden
Queen).
About IHS Markit
IHS Markit (Nasdaq: INFO) is a world leader in critical
information, analytics and solutions for the major industries and
markets that drive economies worldwide. The company delivers
next-generation information, analytics and solutions to customers
in business, finance and government, improving their operational
efficiency and providing deep insights that lead to well-informed,
confident decisions. IHS Markit has more than 50,000 business and
government customers, including 80 percent of the Fortune Global
500 and the world's leading financial institutions.
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