Mosaic Smart Data secures £6.87 million Series A investment co-led by Octopus Ventures and Commerz Ventures

29 April 2019: J.P. Morgan joins CommerzVentures and Octopus Ventures in USD 9 million fundraising round for the real-time capital markets data analytics firm.

Mosaic Smart Data, the real-time capital markets data analytics company, has completed an USD 9 million investment round to support its rapid product development and global expansion.

The round is co-led by CommerzVentures and Octopus Ventures and includes J.P. Morgan – an existing investor and client.

Daily trading activity in the capital markets generates vast quantities of raw transaction and pricing data. Institutions are increasingly looking to extract the value from this, largely untapped, data asset. Annual spending on data analytics and market data has now grown to over USD 30.5 billion a year.Being able to refine this raw data and distil it into meaningful ‘Smart Data’, where value can be extracted in the form of actionable insights, is a significant challenge that all market participants face, but success offers a proven and compelling competitive advantage for both buy-side and sell-side.

Mosaic Smart Data’s solution cleanses, normalizes and enriches this raw data and provides a consolidated real-time view and analysis across the flows of market activity. Mosaic’s advanced suite of machine learning models identify and alert the user to opportunities and threats, generating actionable insights specific to user job functions from sales and trading to management and compliance.

The firm provides analytics technology suitable for investment banks, buy-side firms, custodians, ECN’s, exchanges and regulators.

Heiko Schwender, Principal at CommerzVentures, said: “Data analytics is becoming an integral part of every industry and the capital markets are no different. We will soon be at a position where it is a prerequisite for performance in the markets. This presents a huge opportunity for Mosaic Smart Data, which has built a platform which sets the gold standard for capital markets analytics. We are thrilled to be part of Mosaic Smart Data’s journey.”

Warren Rabin, Co-Head of Global Macro Sales and Marketing at J.P. Morgan, said: “Today’s financial markets are awash in data at a scale never seen before, but what really drives performance is being able to extract truly actionable insights from that data in real-time. Tools like this that quickly make sense of vast data sets are changing the way our teams respond and operate and are going to become a differentiating factor for banks as they look to add value in their client discussions.”

Zihao Xu, Future of Money lead & early stage investor at Octopus Ventures, said: “One of the most exciting applications of artificial intelligence is combining it with human intelligence to create something which is more than the sum of its parts. Mosaic Smart Data’s machine learning models surface data insights that even the best human quant may not spot, delivering them to staff in a way which lets them act immediately. That is a powerful combination to drive productivity and performance across FICC markets globally.”

Matthew Hodgson, CEO and Founder of Mosaic Smart Data, said: “Mosaic Smart Data’s mission is to empower financial market professionals with usable, data-driven tools to ask the questions they need answered and to receive those results in a language they can understand. We want them to feel as though they have the firm’s best quant sitting at their desk 24/7, able to answer any question they have almost instantly. That is the power of smart data analytics.

“This is a mission which is driving incredible interest among the world’s leading financial institutions. With the support of these investors, we’ll be able to take full advantage of the opportunity, accelerating deployment of the Mosaic Smart Data platform for clients and ensuring we keep the platform at the cutting edge of data analytics R&D and smart data technology.”

J.P. Morgan makes strategic investment in technology innovator and workplace pensions provider, Smart Pension

J.P. Morgan has made a strategic investment in technology innovator and UK workplace pensions provider, Smart Pension, it was announced today.

The company has taken a minority equity stake in the firm as part of Smart’s new strategic placement funding round, bringing total funds raised to date to c.£50m.

The news comes as Smart, one the UK’s largest providers of workplace pensions, continues to build its stature as a leading player in the UK DC landscape and takes its savings platform technology into fresh global markets.

In October last year, Smart announced it had won an international competitive tender to deliver a pensions technology platform for New Ireland Assurance, one of Ireland’s leading life insurance, pensions and investment businesses.

The fast-growing UK-based fintech is now in early-stage conversations with new strategic partners globally.

Andrew Evans, Smart Pension co-founder and CEO, said: “We are delighted to have secured this investment from J.P. Morgan, as it signifies a positive step in our growth and international reach. From the outset our objective has been to put user engagement and experience at the heart of everything we do, utilising technology to build an unrivalled platform. Our journey has just started, the opportunities to disrupt and do things differently in this sector are staggering, and we will be leading the way.”

Anne Lester, Global Head of Retirement Solutions, J.P. Morgan Asset Management, will take a non-executive seat on the Smart board.  She said: “We are investing in pensions and savings solutions and technology capabilities to help investors achieve better financial outcomes, reinforcing our commitment to putting clients first in every aspect of our business. Smart Pension has demonstrated how financial technology can have a positive impact by making it easier both for people to save for retirement and for companies to offer pension plans to their employees.”

Will Wynne, Smart Pension co-founder and MD, said: “In October we won our first international competitive tender to build a savings technology platform in Ireland. This gives us an opportunity to demonstrate how our unique proprietary dynamic technology is plugging a huge gap in the workplace savings platform market, and performing on a global scale. We are now in early stage conversations with new strategic partners as the world’s financial institutions grapple with regulatory change and legacy technology.”

ENDS

For further information please contact:

Liz Slee

liz.slee@smartpension.co.uk

+44 (0) 7540 060112

About Smart Pension

Smart Pension is a global savings technology platform provider. It is also one of the UK’s largest providers of workplace pensions. Its award-winning master trust is MAF-accredited and overseen by independent professional trustees. It was co-founded in 2014 by Andrew Evans, CEO, and Will Wynne, MD, and launched in May 2015. Europe’s largest asset manager Legal & General Investment Management (LGIM) took a minority stake in the digital pension platform in 2016, part of a move by LGIM to invest in high-achieving, innovative technology that has a positive impact on the economy. In June 2017 it was named Fintech Innovation of the Year and overall winner in the Digital Leaders 100 awards, in June 2018 it was named as Master Trust of the Year at the European Pension Awards.

https://www.smartpension.co.uk