JPMorgan invests in fixed-income data startup

From Reuters - March 13, 2018

(Reuters) - JPMorgan Chase & Co has made a strategic investment in Mosaic Smart Data, a company that has developed technology to help banks make their fixed-income sales and trading businesses more profitable.

The bank, whose fixed-income revenue slumped last year, has taken a minority stake in the London-based startup, the companies said in London on Wednesday.

The financial terms of the deal were not disclosed.

Mosaic will use the funding to double its headcount and expand its platform to cover additional asset classes for new and existing clients, according to a person familiar with the deal.

The investment comes after JPMorgan revealed in October that it had signed a multiyear deal to use Mosaics technology globally.


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