Pico, a US-based provider of technology services for the global financial markets community, has secured $135m investment in Series C round to fund its global expansion plans.
The latest investment round was joined by Intel’s global investment arm came from Intel Capital.
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Intel Capital senior MD Andy Fligel said: “Fintech’s impact on capital markets continues to grow and those who successfully tap technological innovations can transform their competitiveness.
“Pico’s track record of innovation and strategic roadmap with Intel technology at its foundation should deliver low-latency high throughput process automation, machine learning and advanced analytics for the financial services industry.”
The round was also joined by strategic partner EDBI, and new investor CreditEase Fintech Investment Fund.
Other investors and Pico clients include Goldman Sachs, JP Morgan, Wells Fargo, UBS, Nomura, DRW Venture Capital, Chicago Trading Company, Capital Markets Trading and Simplex Investments.
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By GlobalDataPico has been investing in boosting its platform and international reach since the past two years. This includes investment in its financial services network PicoNet.
These investments will allow the firm to add automation tools to its platform.
Moreover, Pico has joined Intel Capital’s list of portfolio companies, which boosts its growth with opportunities.
Its real-time and machine intelligence solution Corvil Analytics has been using the Intel Xeon processor as its core for over 15 years.
Pico, with its latest funding round, will collaborate with Intel to deliver a real-time streaming analytics platform for financial markets trading.
Pico chairman, founder and co-CEO Jarrod Yuster said: “We are honoured and proud to have Intel Capital join as an investor and to reach this important funding milestone which is supporting our ongoing growth and global expansion.
“The strengthening of our balance sheet will continue to allow us to realize our differentiating strategy of investing in building the most globally comprehensive, robust, scalable and high-performance infrastructure in the financial services industry that meets clients current and future needs.”
