Transcend secures Citi Investment for inventory optimisation solutions
15 December 2023 US
Image: eyetronic
Transcend, a provider of liquidity, funding, and collateral optimisation solutions, has secured banking partner Citi as its latest investor.
Citi becomes the third global bank to invest in the fintech firm along with other institutional investors.
The investment was made through Citi鈥檚 Strategic Investments arm and will support Transcend鈥檚 global roll out of its solutions.
The agreement will also enable Citi to enhance the efficiency of how it deploys cash and collateral across its global network.
Formed in 2013, the Transcend solution integrates activity across bi-lateral, cleared, and triparty collateral requirements and allows allocation of the best collateral.
Alain Verdickt, head of collateral optimisation at Citi, says: 鈥淭he industry-wide solutions that Transcend is developing have the promise to dramatically shift the efficiency and profitability of the entire industry and we鈥檙e glad to play our part in facilitating these advances,鈥�
Transcend founder and CEO, Bimal Kadikar, adds: 鈥淭he use of collateral has moved beyond operations and is now being seen as a strategic enterprise-wide business opportunity.
Citi becomes the third global bank to invest in the fintech firm along with other institutional investors.
The investment was made through Citi鈥檚 Strategic Investments arm and will support Transcend鈥檚 global roll out of its solutions.
The agreement will also enable Citi to enhance the efficiency of how it deploys cash and collateral across its global network.
Formed in 2013, the Transcend solution integrates activity across bi-lateral, cleared, and triparty collateral requirements and allows allocation of the best collateral.
Alain Verdickt, head of collateral optimisation at Citi, says: 鈥淭he industry-wide solutions that Transcend is developing have the promise to dramatically shift the efficiency and profitability of the entire industry and we鈥檙e glad to play our part in facilitating these advances,鈥�
Transcend founder and CEO, Bimal Kadikar, adds: 鈥淭he use of collateral has moved beyond operations and is now being seen as a strategic enterprise-wide business opportunity.
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