Israel’s TradAir, a provider of foreign exchange trading technology, raised $15 million in a funding round led by new investor Long Ridge Equity Partners of New York.
TradAir’s existing venture capital investors, Carmel Ventures and Genesis Partners, also participated in the round. The new financing will enable TradAir to further develop its technology capabilities, the company said on Monday.
TradAir’s technology, which can be integrated into existing trading systems, provides traders with insight into deal flows and market liquidity, allowing them to make strategic decisions on pricing and hedging.
Concurrent with Long Ridge’s investment, Cliff Lewis will join TradAir as chairman. Lewis formerly served as chief executive of Currenex, a foreign exchange trading platform acquired by State Street in 2007.