Editorial & Advertiser Disclosure Global Banking And Finance Review is an independent publisher which offers News, information, Analysis, Opinion, Press Releases, Reviews, Research reports covering various economies, industries, products, services and companies. The content available on globalbankingandfinance.com is sourced by a mixture of different methods which is not limited to content produced and supplied by various staff writers, journalists, freelancers, individuals, organizations, companies, PR agencies Sponsored Posts etc. The information available on this website is purely for educational and informational purposes only. We cannot guarantee the accuracy or applicability of any of the information provided at globalbankingandfinance.com with respect to your individual or personal circumstances. Please seek professional advice from a qualified professional before making any financial decisions. Globalbankingandfinance.com also links to various third party websites and we cannot guarantee the accuracy or applicability of the information provided by third party websites. Links from various articles on our site to third party websites are a mixture of non-sponsored links and sponsored links. Only a very small fraction of the links which point to external websites are affiliate links. Some of the links which you may click on our website may link to various products and services from our partners who may compensate us if you buy a service or product or fill a form or install an app. This will not incur additional cost to you. A very few articles on our website are sponsored posts or paid advertorials. These are marked as sponsored posts at the bottom of each post. For avoidance of any doubts and to make it easier for you to differentiate sponsored or non-sponsored articles or links, you may consider all articles on our site or all links to external websites as sponsored . Please note that some of the services or products which we talk about carry a high level of risk and may not be suitable for everyone. These may be complex services or products and we request the readers to consider this purely from an educational standpoint. The information provided on this website is general in nature. Global Banking & Finance Review expressly disclaims any liability without any limitation which may arise directly or indirectly from the use of such information.

DUCO ANNOUNCES $28M GROWTH INVESTMENT FOR DATA ENGINEERING IN THE CLOUD

Duco, the data engineering technology company, today announced the completion of a $28m investment round by Insight Venture Partners, NEX Opportunities and Eight Roads Ventures. The round also includes an investment by lifetime entrepreneur and former CEO of SunGard, Cristóbal Conde.

Duco provides technology that enables banks, brokers, asset managers and exchanges to normalise, validate and reconcile any type of data in Duco’s cloud, providing firms with on-demand data integrity and insight. The company has seen rapid and global growth as the industry re-platforms, adopting advances in leading technology to eliminate operational risk and cost and making actionable data more immediately available across the enterprise. Duco will use the investment to expand its global footprint, with headcount growth in Europe and the US, the launch of an Asia office and an expansion of its award-winning product set.

Christian Nentwich, CEO of Duco, said, “Duco’s approach to solving complex data problems in financial services is to empower experts with self-service solutions. We have gained considerable traction as the industry looks for intelligent answers to evolving new market realities. Our clients have engaged us globally at a strategic level and are relying on our proven ability to deliver at scale. This investment enables us to push further in applying our natural background in Computer Science to solving fundamental industry problems, while strengthening our resources to deepen relationships with our existing client base.”

Peter Sobiloff, Managing Director, Insight Venture Partners, said, “Insight Venture Partners tracks many companies, but few stand out. Duco is one of the few. The company has already demonstrated tremendous growth, and we are looking forward to scaling that growth to the next level. We are impressed by the management team’s ability to deliver tangible impact in a challenging and complex business-to-business environment while amassing an impressive global client list with high customer satisfaction levels and retention rates. Insight is looking forward to working with the Duco team.”

Michael Spencer, CEO of NEX, said, “The evolution of the post-trade environment in financial services requires fundamental changes in market structure, processes and technology. In areas such as data, a deeper and more technical level of innovation has been required and this is exactly where Duco are the industry’s pioneers. NEX has supported the firm from its conception  and we are thrilled, but not surprised, to see its substantial progress.”

Cristóbal Conde said, “I am delighted to be deepening my relationship with Duco at this important inflection point for the company. Reconciliation in financial services, and particularly in banks and large asset managers, is an area that requires a shake-up and re-engineering in the coming years. Duco is focused on bringing technological advancements to market in an industry that is ripe for disruption. The company is taking significant market share and will emerge as a household name in the coming years.”