London-based software startup Model Two Zero has received new investment from Euclid Opportunites, the vehicle set up by interdealer broker ICAP last year to provide seed funding to early-stage financial technology companies. The amount of the investment was not disclosed.
Founded in 2006, Model Two Zero provides matching, reconciliation and data-translation technologies to financial services firms, including Credit Suisse and JP Morgan. The company claims that its software allows customers to validate, transform and reconcile large volumes of complex transactional data across global trading environments.
Christian Nentwich, CEO of Model Two Zero, said that working with Euclid would allow the company to grow and develop new solutions. “It is clear that our technology has the potential to lead to revolutionary improvements in post-trade business processes,” he said.
“Global regulatory initiatives are driving demand for a range of powerful and efficient reconciliation services across a number of business areas,” added Mark Beeston, CEO of portfolio risk services at ICAP. “This investment is another step as we continue to provide our clients with the industry’s best and most innovative post-trade services.”