Forex software provider TradAir raises $4 million from VCs

Israel-based Forex software provider TradAir has raised $4 million from leading Israeli venture capital firms Carmel Ventures and Genesis Partners. TradAir has a white label solution geared specifically to medium and large size emerging market banks and brokers which currently do mainly “voice” trading, enabling them to add an online trading option for clients.

TradAir was founded and is run by alumni of Traiana, which ICAP acquired in 2007 for $247 million — TradAir CEO Illit Geller was Traiana’s VP Bus Dev, and COO Ayal Jedeikin was Traiana VP Product. Traiana was also a VC-backed software startup, and provides post-trade processing for FX transactions. Its former CEO, Gil Mandelzis, has remained with ICAP and was recently promoted to head ICAP’s Forex ECN business, ICAP-EBS.

TradAir was founded just two years ago, but has reportedly already begun selling its solution and is generating revenues. Not surprisingly, TradAir reports having a “strategic partnership agreement” with ICAP-EBS.

For more on the global Forex industry see the LeapRate Dow Jones Forex Industry Report.

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