Front office technology solutions provider Velox has secured $2.5 million in strategic funding from ETFS Capital.

The investment will look to accelerate the firm’s growth plans which is focused on further developing the core platform and increasing distribution capabilities and client base in New York and London.

Velox delivers real-time web apps and services at high speed while enabling capital markets firms to overcome the limitations of their existed fragmented systems.

This is done by transforming them into one integrated platform spanning the entire order life-cycle.

Jon Butler (pictured), CEO of Velox, commented: “Fragmented data, disjointed business process and legacy technology is killing productivity and innovation in the front office.

“Velox offers immediate relief by acting as a bridge between clients’ current platforms and a future driven by innovation.

“We are delighted to have secured investment from ETFS Capital, enabling us to bring a unique and much-needed solution to the capital markets.”

Graham Tuckwell, Chairman of ETFS Capital, said: “From experience, we know that front office technology simply has not kept pace with markets as they are today.

“We believe Velox has the solution, the experience and the ambition to fix this industry-wide problem.”

ETFS Capital has provided strategic funding to a number of firms in the investment industry including Moorgate Benchmarks last October and ETFLogic in January 2019.

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