Obsidian Solutions, a Canadian fintech company that optimizes operations for fund managers, announced on Monday it has secured $500,000 during a seed funding round.
Obsidian noted its team has designed and built a new type of solution for the asset management community that tackles the need for personalized data modeling and client communications head on. With a proprietary plugin framework its flagship product, FundBinder, allows fund managers to securely automate post-trade data management, investor relations, while providing them with a strong bedrock on which to install new bespoke features that streamline operations at a fraction of cost to what was previously possible.
Obsidian was selected as a top 10 global Fintech company by the Startupbootcamp London in 2015, with the potential to capitalize on the growing need for automated solutions for operations in asset management.
Lazar Radenovic, co-founder of Obsidian, added:
“We are excited to have the support of a great mix of experienced institutional and private investors in London who understand the forward momentum of FinTech and its growth potential in the asset management space. The funding will allow us to continue expanding our product offering to meet the ever changing needs of our industry.”