Firm58

Firm58 (Acquired/Merged)

  • FOUNDING YEAR: 2005
    LOCATION:
    United States
    REGION:
    Illinois
    Last Update:
    9 Sep, 2019

Description

FOCUS

PRODUCTS & SERVICES:
Firm58’s web-based financial management software manages the processes associated with fees, commissions and compliance to help increase revenue and operational efficiency, reduce costs, and remain compliant. The Software as a Service (SaaS) platform automates middle- and back-office processes across asset classes to provide insight into daily profitability and revenue. Firm58 offers solutions for billing, profitability analysis, commission sharing arrangements/soft dollar management, and compliance. Clients include global market exchanges and execution venues, institutional brokerages, clearing and non-clearing broker-dealers, and proprietary trading firms.
REVENUE MODEL:
Viewable by subscribers only
MAIN CLIENTS:
Macro Risk Advisors, CBOE Holdings, NYSE Euronext, North Bridge Venture Partners, BOX, Hamilton Executions, Pulse Trading (now part of State Street Corporation), and more.
PRIMARY PROBLEM SOLVED:
As trades are divided across multiple execution venues, it presents increasingly difficult to effectively manage fees, commissions and compliance. The Firm58 platform is built to handle the growing complexities businesses face currently and will face in the future.

PEOPLE

FOUNDERS:
James Mullen, Samuel Mele
NUMBER OF EMPLOYEES:
11-50

TRACTION

Insufficient information for accurate analysis

MOMENTUM

FUNDED:
YES
TOTAL FUNDING:
$19.2 Millions
FUNDING SERIES:
SERIES A
$3.7 Millions Closed: Apr 2007
SERIES B
$8.5 Millions Closed: May 2008
SERIES C
$7 Millions Closed: Jun 2010
LISTED:
NO

LATEST RESEARCH