Completes $42 million capital raise in 2017; grows revenues by over 25%
January 18, 2018; New York – Broadway Technology, LLC, a provider of high-performance fintech and infrastructure solutions, completed the most successful year in its 14-year history as the company increased its annual revenue by more than 25% from 2016, expanded into the global fixed income markets by signing deals with three top tier banks, including Barclays, and gained substantial market share in FX with major banks.
Following the company’s $42 million capital raise from Long Ridge Equity Partners in May, Broadway closed a record amount in new bookings in 2017. It also became the only vendor with a common platform for both global fixed income and foreign exchange trading after rapidly expanding its dealer-to-dealer and dealer-to-client coverage worldwide and going live in all major European markets.
Over the last 12 months, Broadway has grown its team by 25% to nearly 150 people worldwide. To support its future growth, Broadway is building a 28,000-square foot office in New York City and has doubled the sizes of its Austin and London offices.
It has been a prolific year for Broadway’s fintech development, including the addition of EU and APAC fixed-income markets, significant enhancements to its fixed-income and FX solutions across the trading lifecycle, and support for MiFID II ahead of the January 2018 deadline.
Its flagship middleware, the Toc, has emerged as the leading smart enterprise platform for the global financial industry, underpinning some of the industry’s most advanced global trading systems. In 2017, Broadway introduced numerous platform enhancements to the Toc, including innovations in low-latency messaging, expanded web APIs, and cloud support.
The company also received several notable industry awards and accolades this year, including Best Smart Order Routing Product/Tool at the Sell-Side Technology Awards for the second year in a row, and Best FX Connectivity Provider at the e-FX Awards. Additionally, co-founders Tyler Moeller and Joshua Walsky were ranked #21 on Institutional Investor’s annual Trading Technology 40 list, which highlights the top leaders and innovators that are impacting trading technology across the global capital markets.
About Broadway Technology
Broadway Technology is a leading provider of high-performance fintech solutions and infrastructure to top global, regional and national banks; brokers; and the buy-side. Founded in 2003 by experts in enterprise software and quantitative trading, Broadway has employees worldwide with offices in New York, Austin, London, and Waterloo. To learn more about Broadway Technology, visit www.broadwaytechnology.com.