Edgewater Markets, known for its electronic foreign exchange aggregation tool, agreed to a minority stake deal with New York-based private equity firm FTV Capital.
The deal comes just weeks after fintech startup CardConnect, a portfolio company of FTV, agreed to a $350 million cash and common stock merger with FinTech Acquisition Corp.
The latest deal with New York-based Edgewater is the first institutional capital raise for the startup and is valued at $30 million. The cash is expected to be used to enhance the company’s technology offerings and grow its sales team.
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