Citi Invests in ChartIQ's Finsemble

Citi, the bank itself and not its Citi Ventures arm, has stepped in as the first strategic investor in ChartIQ’s Finsemble, one of the entrants in the growing desktop integration space. The financial terms of the deal are undisclosed, but the investment follows as an add-on strategic investment just as the bulk of the Charlottesville-based firm’s Series B funding closed.

ChartIQ CEO Dan Schleifer said the company knows Citi well, and the decision to partner with the company was a natural one. The vendor wants to use the funding to accelerate both the building of the Finsemble platform, as well as the global roll-out of it. 

Finsemble has been adopted across the buy-side, sell-side, and other technology vendors as part of their digital transformation projects. 

“It’s been kind of a fragmented experience,” says Schleifer, adding that traders, portfolio managers, and analysts often work with 30 to 40 pieces of software that don’t interact with each other. “When we talk about digital transformation in the Finsemble context, what we’re talking about is standardizing the way these firms deploy software to their users and integrate that software so that users are more efficient and more effective at what they do.”

Prior to the Citi investment, ChartIQ has used this round of funding to expand by scaling up its offices in New York and London, opening a new office in Hong Kong and making improvements to how clients can consume, onboard, and deploy its technology.