HQLAx closed a €14.4m investment round led by BNY Mellon, Goldman Sachs, BNP Paribas Securities Services and Citigroup

Germany France Luxembourg United States Investments 11 January 2021
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HQLAx, a Luxembourg-based financial technology firm, announced securinga funding round totalling €14.4m ($17.4M).

The money was raised from strategic investors including BNY Mellon, Goldman Sachs, BNP Paribas Securities Services and Citigroup, and with participation from longtime strategic partner Deutsche Börse Group.

The funding will be used to accelerate the core premise of the HQLAᵡ platform – helping the industry address European collateral fragmentation by extending its connectivity to leading triparty agents, custodians and market participants.

HQLAx, founded in 2017 by CEO Guido Stroemer, works with financial institutions active in securities lending and collateral management and helps them leverage R3’s distributed ledger technology Corda Enterprise as the HQLAᵡ platform enables market participants to transfer ownership of securities seamlessly across disparate collateral pools at precise moments in time. This allows participants to optimize their liquidity management and collateral management activities, thereby generating operational efficiency gains and capital cost savings.