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Credit Suisse backs NY-based Fintech firm Solve Advisors

Eugene Grinberg

Eugene Grinberg, CEO, and Co-founder Solve Advisors

New York-based Solve Advisors Inc., a fixed income market data aggregator, has received a capital injection from NEXT Investors (a NY-based venture capital arm of Swiss Investment Bank Credit Suisse Group AG).

Financial terms of the deal have not been disclosed yet. However, Solve, a provider of pre-trade price transparency in fixed income markets has announced plans to use the additional funds to boost business’ growth with increased sales and marketing presence, and further product development.

Founded in 2011 by co-founders Eugene Grinberg and Gerard Nealon, the fintech firm has developed a dataset across securitized products, corporate bonds, syndicated bank loans, credit default swaps, and municipal bonds.

SolveQuotes, the company’s flagship product, makes use of proprietary natural language processing and machine learning technology to aggregate and visualize data processed from unstructured messages of clients.

“Recent demand for price transparency has been bolstered by the proliferation of algorithmic trading, Fixed Income ETFs, Best Execution and TCA initiatives,” Grinberg noted.

As part of the investment, Credit Suisse Asset Management’s NEXT Investors will appoint two members to Solve Advisors’ Board of Directors.

Credit Suisse Asset Management’s NEXT Investors identifies minority growth equity investment opportunities in private technology and services companies globally. The team’s portfolio comprises private businesses that interact with the financial services industry across sectors including Market Structure, Financial Technology, Enterprise Software, Data Analytics, and Specialty Finance.

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