NEW YORK, Nov. 17, 2016 /PRNewswire/ -- T-REX Group,
Inc. ("T-REX"), a financial services technology company, today
announced a $10 million Series B
financing. The round was led by Safeguard Scientifics (NYSE:SFE)
with $6 million, with participation
from existing investor Ecosystem Integrity Fund (EIF).
Approximately $3 million of the round
has been earmarked for strategic investors. Proceeds will be used
to expand product capabilities and scale T-REX's client development
team.
Founded in 2012 and headquartered in New York City, T-REX's secure, enterprise
SaaS-based analytics, risk, and portfolio management platform
standardizes and provides transparency to the complex structured
products evaluation process, increasing liquidity and creating
significant investment opportunities for the hundreds of billions
of dollars of capital across various esoteric, non-commoditized
asset classes.
"In 2016, we have attained more than 150 end users and
established influential industry partnerships, including
Morningstar Credit Ratings and Renovate America," said T-REX
Founder and CEO, Benjamin Cohen. "In
addition, we have achieved key product milestones and developed a
repeatable go-to market strategy that has already helped facilitate
hundreds of millions of dollars of new capital for our clients. The
T-REX platform increases standardization, promotes efficiency,
prioritizes transparency and enhances compliance, all while
lowering costs for our customers, which include a global set of
investors, bankers, and finance professionals."
By 2021, the market for structured product analytics tools is
expected to exceed $1.4 billion.
T-REX is addressing this opportunity by aggressively targeting
global financial institutions, asset managers, developers, etc.
Today, at major financial institutions, there are fragmented,
non-standardized software solutions that are currently being used
across the majority of asset classes, giving T-REX a meaningful
opportunity to streamline and diversify its initial product
offering. As software spend on financial markets infrastructure for
structured products increases, additional asset classes will be
targeted for development.
"To date, T-REX has demonstrated proof-of-concept in its
beachhead markets — solar and Property Assessed Clean Energy
("PACE") — which we believe is instrumental as the company looks to
replicate its technology on a much broader scale," said
Tina Aufiero, Managing Director at
Safeguard, who will join T-REX's Board of Directors. "T-REX was
founded with the mission to alleviate critical pain points in
building valuation models and enabling more efficient and informed
decisions in financing starting in esoteric, non-commoditized asset
classes. With Safeguard's refined focus on deploying capital
in technology-enabled businesses, particularly within financial
services, Safeguard recognizes the opportunity to close the gap for
financial markets infrastructure and SaaS-based analytics in a
rapidly-evolving structured products landscape."
About T-REX Group
T-REX is an industry-leading
financial services software technology company that specializes in
valuation, risk analysis, and structuring tools to unlock
investment opportunities for various asset classes. Founded in
2012, T-REX has developed partnerships with some of the leading
investment banking institutions. By using T-REX's secure,
proprietary platform, investors, asset managers, and developers are
empowered to efficiently and transparently finance, securitize, and
manage their assets. For more information, visit www.trexgroup.com
or connect with the company on Twitter and LinkedIn.
About Ecosystem Integrity Fund
Ecosystem Integrity
Fund ("EIF") is a sustainability-focused venture capital fund,
targeting sectors including renewable energy, green chemistry, and
resource efficiency. EIF takes a systems-based approach to
sustainability investment, primarily investing in more
capital-efficient opportunities than the typical clean technology
fund. EIF seeks out niches within "cleantech" that have not
received the investor attention they deserve, resulting in better
investment opportunities and greater impact with less capital. EIF
believes small venture funds are better aligned with client
interests and ensure a more disciplined approach to investment. For
more information, visit ecosystemintegrity.com.
About Safeguard Scientifics
Safeguard Scientifics
(NYSE:SFE) provides capital and relevant expertise to fuel the
growth of technology-driven businesses in healthcare, financial
services and digital media. Safeguard targets companies that are
capitalizing on the next wave of enabling technologies with a
particular focus on the Internet of Everything, enhanced security
and artificial intelligence, which includes predictive analytics
and machine learning. Safeguard typically deploys between
$5 million and $25 million over the
course of its partnership with a company, initially investing in a
Series A or B Round and opportunistically in a Seed Round.
Safeguard has a distinguished track record of fostering innovation
and building market leaders that spans more than six decades. For
more information, please visit www.safeguard.com or
follow us on Twitter @safeguard and LinkedIn.
Forward-looking Statements
Except for the
historical information and discussions contained herein, statements
contained in this release may constitute "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Our forward-looking statements are subject to
risks and uncertainties. The risks and uncertainties that could
cause actual results to differ materially include, among others,
our ability to make good decisions about the deployment of capital,
the fact that our partner companies may vary from period to period,
our substantial capital requirements and absence of liquidity from
our partner company holdings, fluctuations in the market prices of
our publicly traded partner company holdings, competition, our
inability to obtain maximum value for our partner company holdings,
our ability to attract and retain qualified employees, market
valuations in sectors in which our partner companies operate, our
inability to control our partner companies, our need to manage our
assets to avoid registration under the Investment Company Act of
1940, and risks associated with our partner companies, including
the fact that most of our partner companies have a limited history
and a history of operating losses, face intense competition and may
never be profitable, the effect of economic conditions in the
business sectors in which Safeguard's partner companies operate,
and other uncertainties described in our filings with the
Securities and Exchange Commission. Many of these factors are
beyond the Company's ability to predict or control. As a result of
these and other factors, the Company's past financial performance
should not be relied on as an indication of future performance. The
Company does not assume any obligation to update any
forward-looking statements or other information contained in this
press release.
MEDIA CONTACT
Heather
Hunter
Vice President, Corporate Communications
Safeguard Scientifics
610.975.4923
hhunter@safeguard.com
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SOURCE Safeguard Scientifics, Inc.