Trema Secures EUR22.25m of VC Funding
Trema, the finance and treasury software solutions provider, has raised funding to the value of EUR 22.25 million. The lead investor, Carlyle Europe Venture Partners, part of The Carlyle Group, is joined in this funding round by a follow-up investment from DB Capital Venture Partners, as well as Trema’s founders. Trema’s revenues grew 43% in 2001 reflecting a record number of new blue chip customers including ABN AMRO, Deutsche Bundesbank and Travelex. The firm said the new funding will enable it to ‘service demand from existing markets, expand geographically and cater for the requirements of top tier financial institutions in the investment banking, asset and wealth management and private banking sectors’. It will also be used to ensure continuous investment in research and development – which has consistently been in excess of 20% of annual revenues. The distribution channels for Trema’s technology and solutions will continue to be its growing network of offices around the globe. Trema will also focus on expanding its global alliances with leading professional services organizations and technology firms.