SAINT PETERSBURG, Fla., April 25, 2019 /PRNewswire/ -- Intrinio announced today that it has raised $5m in a Series A Financing Round led by Nyca Partners (Nyca), with participation from existing investors, Engage, Bascom Ventures and VilCap Investments. Intrinio democratizes market data – enabling fintech developers to efficiently incorporate vast amounts of data in their applications in minutes. This investment will allow Intrinio to expand its product development, data coverage, and market penetration to further make an impact on the fintech developer and institutional investment landscape. Nyca Investment Partner Tom Miglis will join Intrinio's Board of Directors.
Nyca Partners invests and cultivates the next generation of Fintech companies that integrate technological innovation directly into the global financial system. It boasts a team with strong experience in financial infrastructure, and is led by Hans Morris, a former senior executive at Citigroup and President of Visa.
Intrinio was founded by Rachel Carpenter and Joey French, fintech developers whose original start-up was thwarted by the exorbitant pricing of data. After this experience, they created Intrinio to break down this barrier by building a data platform that reinvents the way data is sourced, cleaned and distributed. Intrinio's transparent pricing and flexible licensing options are a breath of fresh air in an industry that has resisted technological innovation for the sake of preserving profit margins. Over the past few years, Intrinio's platform has begun to redefine data delivery for both the largest financial institutions and the smallest fintech innovators.
"Our team continues to build the best data infrastructure possible for programmers and data scientists since they are the future of the financial industry. Our model bypasses traditional vendors, delivering instant, a-la-carte, and powerful data feeds straight to the hands of innovators. This is all supported by powerful infrastructure that streamlines the data supply chain and presents a massive opportunity for financial institutions to rethink data sourcing and governance."
At Intrinio, data scientists collide with CPAs and entrepreneurs in an environment that fosters consistent innovation which creates features that are for developers because they are by developers. Access to the data is instant, and uniquely a-la-carte or bundled, giving users the choice. This year as Intrinio expands and continues to serve programmers and institutions, the future of fintech is increasingly – "Powered by Intrinio."
"Intrinio is solving the cost and complexity conundrum of market data feeds which are critical for innovation. Rachel and Joey identified this roadblock and solved it for themselves and are now making it easy and cheap for others looking to build their financial tools. Expensive market data killed lots of good fintech ideas, and Intrinio can help them flourish," said Hans Morris of Nyca.
Intrinio is a financial data company on a mission to power fintech innovation by providing affordable, high-quality data to developers and engineers from fintech companies, large institutions, hedge funds, startups, and universities. The Intrinio platform consists of an application programming interface (API) supported by over 300 types of financial data feeds that can be easily integrated into applications, websites, widgets, algorithms, and next-generation financial tools. To learn more, visit www.intrinio.com.