Dublin based financial software company Cognotec has received a strategic investment of €16 million from the private equity arm of Standard Chartered Bank, FinVentures.
FinVentures, is providing two-thirds of the new funds, with the remainder of the investment coming from existing investors.
The new investment is to fund the continued expansion of Cognotec's global business. FinVentures will become a minority shareholder and join the board.
Cognotec employs over 150 people globally and is one of the world's biggest suppliers of Internet-based automated trading solutions for banks. The firm has cut staff numbers sharply from a peak of 250 in 2001 after two restructuring announcements saw the company trim nearly 100 jobs.