Foreign exchange trading technology developer TradAir announced today that it has closed a $15 million financing round led by private equity firm Long Ridge Equity Partners. The round was joined by existing investors Carmel Ventures and Genesis Partners. TradAir said that the funding will be used to expand use of its forex liquidity technology.
CEO Illit Geller and COO Ayal Jedeiki founded the Tel Aviv-based company in 2010.
Long Ridge managing partner Jim Brown said, “The company has developed a strong reputation as a technology leader and client feedback is very positive. We are excited by the opportunity to partner with the TradAir team to build a leading technology business.”
TradAir also announced the appointment of former Currenex CEO Ciff Lewis as chairman. He will replace former Bank Hapoalim (TASE: POLI) CEO Zvi Ziv.
Geller said, “His deep domain knowledge, visionary views and extensive relationships will be an invaluable resource to TradAir.”
Lewis said, “TradAir’s IT development capability will be the foundation for success. We’ll be focused on helping clients make money by deploying our products as the FX and rates markets continue their rapid evolution.”
Published by Globes [online], Israel business news - www.globes-online.com - on January 12, 2015
© Copyright of Globes Publisher Itonut (1983) Ltd. 2015