LOS ANGELES--(BUSINESS WIRE)--Vesica Technologies (Vesica), the innovative financial technology company that developed SHIFT and makes financial data more accessible to individuals, announced today that it has closed a $2.1 million Seed round. The new financing includes investment from market-leaders Mercury Digital Assets and Miami International Holdings, Inc. (MIH), the parent holding company of the MIAX Exchange Group™.
“Vesica has taken a deliberate approach to simplify how professional traders develop market insight and make informed investment decisions with maximum efficiency,” said Saad Hussain, Founder, and CEO of Vesica. “Since our inception, we’ve worked to develop an unmatched toolkit for the modern trader, and we are thrilled to have the backing of strategic investors who share our vision and will help us scale."
Vesica’s flagship product, SHIFT, empowers traders with a “front page view” of financial markets by providing directional information on daily market movements, volatility, and major trades all within a modern and intuitive user experience. Designed to enhance real-time “market color” and drive informed decision making by traders, Vesica increases access to the most useful market information across any asset class.
"As access to data has become ubiquitous and seemingly infinite, what investment professionals need most is synthesis,” said Joe Piotrowski, COO of Mercury Digital Assets. “Vesica’s platform is unlike any other we’ve seen, providing a new generation of traders with nearly limitless access to market color for any asset class. We are excited to invest in Vesica’s Seed as they scale this incredibly powerful tool."
“I’m thrilled to invest in Vesica, the most innovative technology I’ve seen enter the space in ten years,” said Tony Saliba, an angel investor in Vesica. “The SHIFT platform reinvents the toolkit for the modern trader, and I’m certain that the most influential investment firms will soon view Vesica as an essential tool for their traders to create an edge."
Traders make decisions based on depth of market liquidity and "market color" while relying on their colleagues on the trading floor or costly tools like Bloomberg Terminal and Refinitiv Eikon to understand market movements. Archaic practices like memorizing product codes don’t meet the needs of modern traders and create inefficiencies in relaying market information to clients and colleagues. These age-old practices have become increasingly inefficient as trading floors have gone remote in the wake of the global pandemic. SHIFT uses simple language and drag and drop widgets so users can navigate market data intuitively and instantly. The platform's customizable widgets monitor specific information in equities and options markets across all 16 U.S. stock and options exchanges, such as volatility, latest trades, and largest trades from anywhere in real-time.
“Saad and team have brought to market one of the most impactful and innovative market insight tools we’ve ever seen,” said Thomas P. Gallagher, Chairman, and CEO of MIH. “We are excited to expand our relationship with Vesica by making this investment and fueling the platform’s continued growth and development."
About Vesica Technologies, Inc:
Vesica Technologies was founded by CEO Saad Hussain (former trader at PVM) and CTO Dr. Alessandro Warth (ex-Google and Y Combinator Research) to create products and services that make financial data less intimidating and more useful for everyone. Vesica's SHIFT Search℠ minimizes the time and effort it takes anyone — from inexperienced day traders to seasoned market professionals — to see and understand what's going on in financial markets, no matter what asset class they're interested in. The company is based in sunny Los Angeles, CA.
To learn more about Vesica and SHIFT, please visit https://www.vesicatech.com/.