Tradair raises $15 million from Long Ridge, Cliff Lewis named Chairman

Israeli FX technology company TradAir has completed a $15 million funding round led by Long Ridge Equity Partners in New York.

The company, whose previous funding round of $4 million from Israeli venture capital investors Carmel Ventures and Genesis Partners was reported by LeapRate in May 2014, intends to develop its technological capabilities following the latest funding round which although led by Long Ridge Equity Partners, was also participated in by existing investor Genesis Partners.

TradAir was founded by former Traiana executives whom form the senior management team of TradAir.

TradAir CEO Illit Geller was post trade processing and risk management infrastructure provider 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 prior to its acqusition by ICAP in 2007 for $247 million. Its former CEO, Gil Mandelzis, has remained with ICAP and was recently promoted to head ICAP’s Forex ECN business, ICAP-EBS.

TradAir develops solutions which can be integrated into existing trading systems, as well as provides traders with insight into deal flows and market liquidity, allowing them to make strategic decisions on pricing and hedging.

Concurrent with Long Ridge’s investment, Cliff Lewis will join TradAir as chairman. Lewis formerly served as chief executive of Currenex, a foreign exchange trading platform acquired by State Street in 2007.

Read Also: