NEW YORK, NY – November 13, 2019 – Pico, a leading provider of technology-as-a-service for the financial markets community globally, today announced that EDBI, a global Asian-based Investor, is now a Pico investor and strategic partner.
Pico provides innovative, transparent, low-latency financial markets solutions. It offers a portfolio of best-in-class products coupled with an agile and expert service delivery platform tailored for the demanding needs of financial markets clients. Instant access to financial markets is provided via PicoNetTM, a globally comprehensive network platform instrumented natively with Corvil analytics and telemetry. Its clients include more than 400 leading banks, exchanges, asset managers, financial technology vendors and trading firms operating across five continents. With Pico, clients are empowered with a highly responsive and transparent technology platform required to participate successfully in today’s fast paced financial markets.
“We are honored and delighted to welcome EDBI as a strategic investor in Pico. EDBI was instrumental to our decision in selecting Singapore as our Asia headquarters when we launched in the region. They have generously provided their guidance and made numerous industry introductions over the past two years. We are excited to have a stronger partnership and to leverage EDBI’s knowledge and experience in emerging technologies as well as their extensive network,” said Jarrod Yuster, Pico Founder and CEO. “We see a bright future for Singapore in financial services, particularly as it promotes investment in new technology innovations like blockchain and distributed ledger technology, in which Pico is at the forefront of supporting.”
Over the past 12 months Pico has steadily expanded its APAC presence with strategic hires, the launch of new offices, additional data center presences, including Singapore, Hong Kong, Tokyo, Korea and Taiwan. Within the next 18 months, the firm plans to add 20 more data centers in the region, completing its strategic plan for comprehensive coverage of APAC financial markets.
“EDBI is pleased to be Pico’s strategic partner for their Asian expansion. With financial markets increasingly leveraging data analytics to better service clients and identify new market opportunities, Pico’s real-time analytics and machine intelligence platform will be a key technology enabler to the local financial community and contribute to strengthening Singapore’s position as a leading global financial center,” said Chu Swee Yeok, CEO & President of EDBI.
With a strong track-record in enabling capital markets firms to access markets faster and efficiently scale their business, Pico is well-positioned to be a catalyst for growth in Singapore’s capital markets. In partnering with Pico, EDBI will provide specialist expertise to accelerate and build on its recent advancements and growth in the region. Pico will leverage the value-added investor’s extensive knowledge of Asian and Singaporean operating environments, its rich management and commercial experience for new business opportunities as well as its strong connections to capital markets firms.
“We are seeing significant growth opportunities throughout Asia, and Pico continues on plan to achieve our goal to be globally comprehensive for financial markets in infrastructure and network connectivity,” said Roland Hamann, Pico Head of APAC. “This investment from EDBI reinforces our commitment to the region and enables us to leverage APAC’s highly skilled talent pool to design, deploy and support our market-leading technology, data and analytics solutions. With plans to double our presence to 80 local employees over the coming years, EDBI will be a critical partner in building Pico’s future and contributing to the overall vibrancy of the region’s financial sector.” EDBI joins a marquis roster of strategic investors in Pico. Many of the investors are also Pico clients, including Nomura, Goldman Sachs, J.P. Morgan, UBS, Wells Fargo, DRW Venture Capital and CMT. Financial details of EDBI’s investment are not being disclosed.
