Cosaic spins off its desktop interoperability platform, Finsemble, and closes new investment round to fuel its growth

CHARLOTTESVILLE, Va., Jan. 10, 2023 /PRNewswire/ -- Today Cosaic announces its desktop interoperability platform, Finsemble, is spinning off as a standalone company. Finsemble Inc. will remain under the leadership of its original founders, Dan Schleifer and Terry Thorsen.

Since its launch in 2017, Finsemble has become the industry-leading interoperability and workflow solution provider. As an independent business, Finsemble is in prime position to meet growing industry needs, scale more rapidly, and outpace competitors.

"Desktop interoperability has become a major trend in capital markets. Finsemble has established itself as a leader in the space and experienced explosive growth across the sell-side, buy-side, and vendor community," says Finsemble Co-founder Dan Schleifer.

The company, which has gained a number of high-profile investors and clients, is retaining Schleifer as CEO and adding COO Joerg Ruetschi to the executive team as President. Investors include Citi North America, Illuminate Financial Management, Digital+ Partners, AFG Partners, and the two founders.

"We're invested in the success of Finsemble as a standalone company," says Ron Savino, Managing Partner at AFG. "Finsemble is poised to continue or exceed its trajectory of triple digit revenue growth, along with continuing to influence interoperability initiatives across the finance industry. It's an exciting opportunity for us to invest in a company that is at the forefront of the future of work for financial services professionals across the globe."

With Finsemble, clients can connect any type of application—modern or legacy, in-house or third-party—to create automated workflows between technologies such as their OEMS, market data workstation, blotters, CRM and analytics apps to improve efficiency, reduce error rate, and allow end-users to focus on higher-value tasks. Known as desktop interoperability across the finance industry, the concept is becoming increasingly imperative to modernize workflows for buy and sell-sides, along with influencing the business strategies of application providers. Since 2017, Finsemble has been adopted by the biggest banks and firms across the industry. Clients include Citi, Charles River Development, Pictet Asset Management and Lind Capital.

"Finsemble has been recognized as the leading innovator in interoperability since its release in 2017," says Joerg Ruetschi, Finsemble COO and President. "From our leadership of the open standard for interoperability (FDC3) to our unique no-code deployment model, plus multiple patents granted for our innovations, Finsemble continues to push the industry forward."

Finsemble's client base has doubled in the past year, with 100% increase in buy-side clients and a tripling of sell-sides and vendors. Three recent industry awards include Waterstechnology.com's Best Buy-Side Implementation Award with Pictet Asset Management and Best Sell-Side Implementation Award with Citi, along with A-Team Insights Best Smart Trader Desktop Environment.

"Technologists have built applications to solve all of our users' individual problems, but this has led to the new problem of application overload," says Finsemble Co-founder Terry Thorsen. "As a company, we are dedicated to streamlining workflows so that people can spend their time on work that matters."

The ChartIQ division of Cosaic was recently acquired by S&P Global (see press release). ChartIQ will become part of the Desktop & Channel solutions within S&P Global Market Intelligence, one of six divisions within S&P Global.

Founded in 2012 as ChartIQ, Finsemble is a leader in interoperability initiatives and FDC3-workflow solutions across the finance industry. With Finsemble, applications of any type—native, web, in-house, and third-party—can seamlessly connect and share information, allowing clients to build customized, automation-assisted workflows that free up end users to do their best work. Results include ten minutes saved per trade and a reduction in RFQ response times of 33%. Clients such as Citi, Pictet Asset Management and Charles River Development choose Finsemble for its world-class U.S. based support, no/low code approach, and partnership-level collaboration. Visit finsemble.com for more information.

SOURCE Finsemble