Pico, a US-headquartered financial markets technology provider, closed a $135m series C round today featuring Intel Capital, the corporate venturing arm of semiconductor and data technology producer Intel.
Online lender investor CreditEase’s Fintech Investment Fund also participated in the round, as did EDBI, the Singaporean government-owned vehicle that invested an undisclosed amount in Pico in November 2019. It has not revealed details of earlier funding.
The company named financial services firms Wells Fargo and UBS and investment banks Goldman Sachs, JP Morgan and Nomura as investors or clients, along with trading firms DRW (through DRW Venture Capital), Chicago Trading Company, Capital Markets Trading and Simplex Investments, but did not confirm their participation in the round.
Pico offers a range of IT services and technology to customers in the financial services sector, including infrastructure hosting, network connectivity, market data analysis, cloud services and the real-time analytics technology it secured through its July 2019 acquisition of Ireland-based Corvil.
Andy Fligel, senior managing director for Intel Capital, said: “Fintech’s impact on capital markets continues to grow and those who successfully tap technological innovations can transform their competitiveness.
“Pico’s track record of innovation and strategic roadmap with Intel technology at its foundation should deliver low-latency high throughput process automation, machine learning and advanced analytics for the financial services industry. We look forward to playing an active role in their success.”
