R2 Financial Technologies

May 18, 2011 07:28 ET

R2 Financial Technologies Announces BDC Financing and Plans for Growth

TORONTO, ONTARIO--(Marketwire - May 18, 2011) -R2Financial Technologies announced today it has successfully raised a first round of mezzanine financing from the Business Development Bank of Canada (BDC). After five successful years in operation, the Canadian software company will use the funds to further accelerate its growth, and strengthen its product engineering and distribution capabilities.

"R2 is a great example of a successful high-growth technology firm, fueled by talented and committed entrepreneurs" said Enes Kula of the BDC's Subordinate Financing Group."We are thrilled to support the company's growth and look forward to participating in its ongoing success."

"We have seen tremendous demand in the market for our portfolio risk management solutions, which package advanced analytics in an intuitive way for business users to make decisions and communicate to investors and senior management." stated Dan Rosen, CEO and Founder of R2 Financial Technologies. "The partnership with BDC allows us to enter into a new period of accelerated growth and continue building our strong and innovative team.

In line with these efforts, the company also announced the following senior additions to the R2 team:

  • Debbie Williams, Head of Business Development and Marketing – Debbie joins from the Royal Bank of Scotland and adds over 20 years of risk management technology expertise to the executive team, having worked at and advised financial institutions in North America, Europe and Asia.

  • Dr. Leonid Merkoulovitch, Head of Quantitative Financial Modeling – Leonid brings a vast experience in quantitative modeling and software development. He was most recently at a leading hedge fund developing software tools for new trading strategies. Prior to that, Leonid spent more than a decade as a key member of the R&D team at Algorithmics Inc.

About R2Financial Technologies

R2 Financial Technologies builds next-generation risk and portfolio management software solutions, empowering credit traders, portfolio and risk managers with superior analytical capabilities for valuation, hedging, optimization, and capital management.

About BDC

Canada's business development bank, BDC, puts entrepreneurs first. With almost 1,900 employees and more than 100 business centres across the country, BDC offers financing, subordinate financing, venture capital and consulting services to 29,000 small and medium sized companies. Their success is vital to Canada's economic prosperity.

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