Monis software, a specialist provider of software and services to the derivatives industry, has secured an undisclosed expansion funding commitment from Kennet Capital, GBP1.6 million (ecu 2.3 million) of which as already been injected into the company.
Formed four years ago through an MBO from the London Business School, Monis has emerged as the global leader in mid-range analytics systems for the derivatives market and also established itself as the UK’s leading independent supplier of Lease/Loan Evaluation software. The company boasts long-term supply and service contracts with more than 500 major financial institutions worldwide, including ABN AMRO, Credit Suisse, Deutsche Bank, Dresdner KB, HSBC, Merrill Lynch, Salomon Smith Barney and UBS.
Brent Isaacs, co-chairman and chief executive of Monis, explained that the funding from Kennet would enable the company to add staff for an intensified sales and marketing effort, expand its support service and introduce more sophisticated systems and on-site services. He added “We established ourselves as leaders in equity derivatives libraries and spreadsheet systems some time ago, but out large client base is proving a natural market for both additional products and a range of associated services”.