NEW YORK, May 24, 2017 /PRNewswire/ -- T-REX Group,
Inc. ("T-REX"), a financial technology ("fintech") company focused
on providing data, analytics, and transactional tools for a variety
of asset classes, including renewable energy, today announced the
closing of a $10 million financing
round. Leading European utility innogy (ETR:IGY) and the
Partnership Fund for New York City
("PFNYC") joined the round. T-REX's Series B was originally led by
Safeguard Scientifics (NYSE:SFE) with participation from Ecosystem
Integrity Fund.
"With innogy's strategic commitment, T-REX has reached a
significant milestone and found a global strategic partner to
catalyze growth in the European renewable energy space," T-REX
Founder and CEO Benjamin Cohen said.
"innogy has proven to be the progressive thought and action leader,
as the data-oriented utility of the future. We look forward to
working with the innogy team to facilitate unprecedented liquidity
in the European renewables market through the transparency and
transactional capabilities that the T-REX platform provides."
Through innogy's investment, T-REX now has the foundation to
broaden its offering in the renewables market, particularly in the
utility sector. Florian Kolb,
Managing Director of innogy New Ventures, Palo Alto, comments on
the partnership, "innogy aims to combine innovation, technology,
and renewable energy. T-REX's financial innovation around energy
data is an essential piece to those long-term plans. We expect the
deployment of the T-REX platform to drive business efficiencies and
empower intelligent decision making."
The Partnership Fund for New York
City also participated in this investment, following its
selection of T-REX to join PFNYC's Fintech Innovation Lab. "As a
graduate of the FinTech Innovation Lab, T-REX is a standout example
of what can be achieved when you leverage New York City's business leadership to support
great entrepreneurs," said Maria
Gotsch, President and CEO of the Partnership Fund for
New York City. "By tapping into
mentoring from financial industry giants, T-REX, like many of our
alumni, made a great business better and now is unlocking
investment opportunities by bringing unmatched efficiency to the
renewable energy industry."
Cohen added, "It is an honor for T-REX to have the support and
commitment of the esteemed Board of the PFNYC. Working with Maria,
her team and network has helped expand T-REX's market vision and
reach, as we prepare to enter additional esoteric markets with
inadequate financial infrastructure."
"This round was all about assembling a reliable team of
partners, creating demand for a product and positioning T-REX for a
period of sustained growth in key markets, both domestically and
internationally," remarks Tina
Aufiero, Managing Director at Safeguard Scientifics and
T-REX Board Member. "Nearly nine-tenths of new power added to
Europe's energy capacity last year
was derived from renewable energy sources, and innogy will serve as
the conduit to this commercial market. With a validated technology
and a global strategic investor, T-REX has the ability to scale
meaningfully, as the esoteric ABS market continues to develop."
With this investment, T-REX will continue to expand its team,
grow its international client base, and optimize its SaaS platform
for target markets across renewables and other esoteric asset
classes.
About T-REX
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 Innogy
innogy SE is Germany's leading energy company. With its
three business segments
Grid & Infrastructure, Retail and Renewables, innogy addresses
the requirements of a modern, decarbonised, decentralised and
digital energy world. Its activities focus on its 23 million
customers, and on offering them innovative and sustainable products
and services which enable them to use energy more efficiently and
improve their quality of life. innogy New Ventures are the Palo
Alto-based activities from innogy, focusing to secure future
business for innogy via three core activity streams: 1. market
entry, 2. venturing and 3. innovation. This includes leading a.
strategic investments in early- and later-stage companies, b. a
group-wide data-driven business model program and c. testing and
launching new businesses for innogy. More information at
www.innogy.com.
About Partnership Fund for New York
City
The Partnership Fund for New York City is the $150 million investment arm of the Partnership
for New York City, New York's leading business organization. The
Fund's mission is to engage the City's business leaders to identify
and support promising NYC-based entrepreneurs to create jobs, spur
new business and expand opportunities for New Yorkers to
participate in the City's economy.
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 predictive analytics. 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.
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SOURCE T-REX Group, Inc.