Cognotec, a Dublin-based foreign exchange and money market e-trading system provider, said it has secured a $14.5 million investment, two-thirds of which will be provided by FinVentures, the private equity arm of Standard Chartered Bank. The rest will come from existing investors.London-based Standard Chartered is one of the 68 banks using Cognotec’s trading technology.
Cognotec said it will use the investment to fund its expansion in the markets in which Standard Chartered operates, including Asia, Africa, the Middle East and Latin America. FinVentures will become a minority shareholder and join Cognotec’s board.
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