Scivantage sells software to manage and monitor investment trades and powers business-to-consumer trading sites for large banks and retail brokers. The company is rolling out an options management tool to improve financial reporting and give investors dashboard comparisons against other market segments. The tool does not provide investment recommendations but lets users compare performance to peers and other segments. CEO Adnane Charchour said the fresh capital will support product development and go-to-market efforts. Scivantage raised $20 million in primarily debt financing to fund those initiatives and potential acquisitions. The company is considering acquisitions to solidify trading solutions or add data analytics capabilities to help customers. Scivantage provides web-based front- and middle-office technology solutions to the financial services industry, serving the online brokerage, wealth management and mutual fund markets. Its product set includes automated cost-basis reporting, advanced trading and customer service portals, and wealth management solutions. The company is led by President and CEO Adnane Charchour and is based in Jersey City, NJ. Scivantage raised $28M in combined equity and debt financing to expand the business. The equity portion was $22M from Brown Brothers Harriman Capital Partners and an additional $6M was provided as senior debt by The Provident Bank. As part of the investment, BBH Capital Partners’ Jeffrey Meskin and Charles Shufeldt joined Scivantage’s board of directors.

Total raised

$48M

Funding rounds

4

Latest round

Equity

Latest activity

Jun 2014