Algorithm and data analytics provider Quantitative Brokers announced that it has received a $24 million strategic investment from Centana Growth Partners.
The investment will help Quantitative Brokers build on its agency algorithms and grow further, the company said. Quantitative Brokers says it has seen rapid growth in the past year, doubling its revenue in 2016 and 25 percent year on year in 2017.
Christian Hauff, CEO and co-founder of Quantitative Brokers, said the new investment will also help the firm increase its market share.
“The investment will go toward expanding our teams from quant research and algorithm development to trading system support as we expand into new asset classes like options on futures, and also into new regions such as Asian futures markets,” Hauff said. “As a leading fintech provider in fixed income markets, we are constantly evaluating ways to empower our clients with smarter and more innovative tools.”
One of these new markets is Asia, as the company wants to expand into providing services for futures and Asia futures exchanges.
Last year, Quantitative Brokers released its fifth algorithm called Closer to optimize execution relevant to settlement price benchmarks. The company also won best TCA provider in the 2016 Buy-Side Technology Awards.