VANCOUVER and TORONTO, Jan. 12, 2016 /CNW/ - Wellington Financial LP, a privately-held specialty finance firm, today announced a US$7 million venture debt financing for FinancialCAD Corporation ("FINCAD"), the leading provider of enterprise valuation and risk analytics for multi-asset, multi-currency portfolios.
FINCAD provides innovative and trusted financial analytics software to more than 1,000 organizations worldwide. FINCAD's product suite can scale from the desktop to enterprise, providing fast, accurate, flexible, transparent, and holistic valuation and risk management of multi-asset, multi-currency derivative portfolios. A number of the world's top financial organizations, such as State Street Corporation, Morgan Stanley, and Aberdeen Asset Management, trust FINCAD's analytics to provide a competitive advantage in their business.
"FINCAD offers mission critical software for financial organizations worldwide. They have developed in-depth industry expertise over their 25 year history. We are very excited to support this best-in-class Canadian company in their next growth phase," said Mark Usher, Partner at Wellington Financial.
"Securing a growth capital round from Wellington Financial is a great vote of confidence in our vision to deliver competitive advantage with multi-asset, multi-currency valuation and risk analytics," mentioned Bob Park, CEO of FINCAD. "This financing will fuel our strategic growth, enable us to continue innovating rapidly, and ensure our vision is delivered."
About Wellington Financial LP
Wellington Financial LP is a privately-held specialty finance firm providing term, venture and amortizing loans up to $40 million. Wellington Financial LP is currently managing a $900 million investment program with offices in Menlo Park, Santa Monica and Toronto. Wellington Financial LP is managed by a partnership controlled by fund management and Clairvest Group Inc. (CVG:TSX), who jointly have contributed a large financial stake to the Fund. LPs include several of Canada's largest institutional investors, crown corporations, financial institutions and pension funds. Please visit the fund website at www.wellingtonfund.com.
FINCAD is the leading provider of enterprise valuation and risk analytics for multi-asset, multi-currency portfolios. FINCAD's flexible, fast, accurate, transparent, and holistic solutions help over 1,000 global organizations enhance investment returns, manage risk, reduce costs, comply with regulations, and provide confidence to investors and shareholders.
SOURCE Wellington Financial LP
For further information: Susan Mocherniak, Wellington Financial LP, Tel: (416) 682-6007, [email protected]; Nik Venema, FINCAD, LinkedIn (http://www.linkedin.com/company/fincad), Twitter (http://www.twitter.com/fincad), Tel: (604) 957-1168, [email protected]