Model Two Zero receives investment from early-stage tech accelerator
Funding set to provide alongside mentoring and advice
London-based financial services technology specialist Model Two Zero has received an undisclosed investment from seed funding vehicle Euclid Opportunities.
The funding provided by Euclid, which was set up by voice and electronic systems giant ICAP last year to identify and nurture financial technology firms, will be accompanied by extensive advice and mentoring support. In addition to growth capital, Euclid offers each of its investees an accelerator service, with advice and support provided by a network of seasoned entrepreneurs. The investment is set to precipitate further growth for Model Two Zero, which is based in Old Street, the heart of London’s Tech City, and already provides trading software for the likes of Credit Suisse and JP Morgan. Christian Nentwich, who founded Model Two Zero in 2006, said: “It is clear that our technology has the potential to lead to revolutionary improvements in post-trade business processes. “Working with Euclid, Icap and leading market participants now gives us the opportunity to build scale and solve the hard and persistent problems that still keep operations professionals awake at night.” Mark Beeston, Icap’s CEO of portfolio risk services, added: “Global regulatory initiatives are driving demand for a range of powerful and efficient reconciliation services across a number of business areas. “This investment is another step as we continue to provide our clients with the industry’s best and most innovative post-trade services.”