US-based risk management software provider T-Rex Group has closed a $10m series B round featuring energy company Innogy’s early-stage investment division, Innogy New Ventures.
Safeguard Scientifics led the round in which Ecosystem Integrity Fund and Partnership Fund for New York City also took part.
Founded in 2012, T-Rex’s software-as-a-service (Saas) platform offers financial institutions and investors valuation, risk analysis and asset structuring tools across a broad range of asset classes.
The company will use the funding to further grow its team and international client base, widening its reach in the European renewable energy sector and other alternative asset classes.