Forex Trading Platform TickTrade Obtains $1.25 Million Growth Financing From BDC Capital
TORONTO, June 25, 2019—BDC Capital’s Growth and Transition Capital division provided $1.25 million in mezzanine financing to Toronto-based TickTrade, the provider of an end-to-end SaaS-based foreign exchange trading platform for financial institutions. TickTrade was founded in 2013 by Baha Ohcebol and Alexander Culiniac, who were colleagues at the time in the capital markets division of one of Canada’s large banks. After reviewing the market’s offerings for a modern foreign exchange platform, they decided to launch their own next generation solution.
The TickTrade platform was launched in 2016 and rapidly found traction. The company is now working on integrating an AI component which will help institutions predict their clients’ needs and optimize pricing and availability. TickTrade’s development and operations have so far mostly been self-funded; this is the company’s first institutional financing. BDC Capital’s non-dilutive investment will serve to hire additional sales and marketing personnel as the company begins further U.S. and European market penetration.
“We are very committed to our goal of becoming a market leader with new innovation and transformative solutions that address our clients’ needs,” says TickTrade CEO, Baha Ohcebol. “As we enter the next phase of our growth, we are very pleased to have BDC Capital as an investor in assisting us grow our global presence.”
This transaction was led at BDC Capital by Kyle Feucht, Director, Growth and Transition Capital, in Toronto. “Thanks to the founding team’s deep industry experience, TickTrade was able to develop an elegant solution to forex trading that gained traction early on,” says Feucht. “The upcoming AI component will further differentiate TickTrade from everything else on the market. We’re impressed that the company was able to get to this point without institutional capital.”
About TickTrade
TickTrade Systems Inc. is a provider of next-generation, end-to-end FX trading and payments solutions. TickTrade offers its clients a highly differentiated user experience including AI assisted analytics & insight into customer behavior. TickTrade clients are using the service to provide their downstream institutional, corporate, commercial, and retail clients a much higher level of service and capability. TickTrade’s open architecture solutions easily integrate with internal systems, significantly accelerating time-to-market, reducing costs, and improving profitability. TickTrade operates in North America, Europe and Asia with demonstrated product success amongst an expanding global client base.
About BDC Capital
BDC Capital is the investment arm of BDC, the bank for Canadian entrepreneurs. With over $3 billion under management, BDC Capital serves as a strategic partner to the country’s most innovative firms. It offers businesses a full spectrum of capital, from seed investments to growth equity, supporting Canadian entrepreneurs who have the ambition to stand out on the world stage. Visit bdc.ca/capital.
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