German index technology provider BITA has completed a new funding round, raising US$6m in fresh capital from ETFS Capital, in a transaction that took less than one month to finalize.
The funding will be a good tool to help BITA speed up its technology launch and add new features to its all-in-one indexing platform, BITACORE.
It will also expand its operations further across Europe and North America, in particular, where the majority of the firm’s clients are situated, along with increasing its headcount across areas such as infrastructure development and software.
Launched primarily in 2020, BITA provides asset managers and institutional investors indexing solutions across index design, backtesting, customization, administration, governance, and calculation.
Victor Huge Gomez (pictured), co-founder and CEO of BITA, told ETF Stream: “Up until now, we have been working extremely hard with limited resources but this deal means BITA has the ability to accelerate. The team at ETFS Capital are some of the pioneers of the ETF industry. They understand the indexing market and what we are trying to achieve.”
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