TradAir closes $4M Funding from Carmel Ventures and Genesis Partners
- Created on Sunday, 06 May 2012 10:32
TradAir, a provider of Over-the-Counter (OTC) trading technology solutions for emerging markets, announced that it raised funding of $4M from Carmel Ventures and Genesis Partners. Following the investment, Avi Zeevi of Carmel Ventures and Dr. Eyal Kishon of Genesis Partners will join TradAir’s board of directors. They will join Zvi Ziv, former CEO of Bank Hapoalim, who is the company’s chairman since its inception. The company went live with its initial offering during its first year of activity and is already generating revenues. The funding will enable TradAir to expand into new markets and accelerate hiring.
TradAir, founded in 2010, enables financial institutions in emerging markets to access new revenue streams, and through a unique model participate in different global networks.
TradAir has a strategic partnership agreement with the EBS – the leading liquidity pool in the global FX market, and part of the ICAP group. The company is a prime client of CITI Prime broker and hold other agreements with leading financial institutions.
Tradair white label offering is tailored for banks and brokers who are looking to extend their existing voice trading business with a hybrid innovative solution for their client base.
TradAir was founded by Illit Geller, CEO and Ayal Jedeikin, COO. Both were formerly senior executives at Traiana, a leading financial technology company.
Illit Geller, TradAir CEO, said: “Trading across Capital Markets and the FX space in particular, has grown significantly over recent years as innovation has allowed technology to meet the complex requirements of banks and financial institutions. We are focused on providing end-to-end solutions designed to address the unique needs of developing and emerging markets while delivering efficiencies and mitigating risks.”
Avi Zeevi of Carmel Ventures added: “TradAir’s management team has long track record in the global financial technology industry and deep domain knowledge of the foreign exchange market. We believe that TradAir can significantly impact the volumes and efficiency of local and global FX trading.”
Eyal Kishon of Genesis added: “TradAir’s uniqueness is in the flexibility of its proprietary technology. It’s a good combination of a disruptive offering, scalable business model and simple user experience which together are TradAir’s key differentiators.”
TradAir is a provider of OTC trading solutions for emerging markets. TradAir solutions enable local voice trading players in emerging markets to access new revenue streams and global networks as well as increase client services and efficiency. TradAir offers through its technology an innovative credit model, the best liquidity, and quick and low cost implementation.
TradAir was founded in 2010 by CEO Illit Geller and COO Ayal Jedeikin, both of whom have a track record and vast experience in the global financial technology industry together with deep domain knowledge of the OTC market. TradAir is backed by leading VC funds Carmel Ventures and Genesis Partners.
With over $600 million currently under management, several successful exits, and a growing portfolio of promising start-ups, Carmel is among Israel’s top-tier venture capital funds. Carmel’s investments are focused primarily on early stage companies in the fields of Software, Internet, Digital Media, Communications, Semiconductors, and Consumer Electronics. Founded in 2000 by pioneers and leaders of the Israeli high tech industry, Carmel provides significant capital and active, hands-on support through the growth cycle of its portfolio companies and is recognized as a true company building fund in Israel. Carmel, headquartered in Herzliya, Israel enjoys a worldwide network of industry, strategic and investment resources.
Carmel is an affiliate of the Viola Group, the largest technology focused Private Equity group in Israel with $2B under management. For more information, please visit www.carmelventures.com.
Since 1996, Genesis Partners has established itself as the leading venture capital investor in Israeli innovation. With over $600 million under management across four funds and a consistent track record of success, Genesis Partners is a partner-of-choice for Israel's best entrepreneurs and most innovative and ambitious start-ups. The fund seeks to invest in technology-driven Israeli companies with the potential to become global leaders in large markets. Led by a highly experienced team, Genesis Partners is focused on information and communication technology companies with unique offerings. The fund has invested in companies serving markets that include enterprises, financial services, communications, consumer electronics, digital media, and energy. Because of the partnership's deep technology and business expertise, understanding of the eco-system in technology markets, and focus on execution, the fund is able to successfully invest in highly innovative companies at very early stages and help them grow to become market leaders. Genesis Partners is recognized as the partner-of-choice for early-stage opportunities.