Software company Tamesis attracts first round funding of £2.35 million. Tamesis design, develop and sell financial software to global investment banks. The software functions in real time and solves the problems that legacy systems were never designed to cope with: e-commerce, globalisation and continuous 24-hour trading.
The investment banking market is predicted to grow to $11billion by 2003 and Tamesis is well positioned as a result of its strong initial performance, to secure a significant share of this. Existing customers using Tamesis software already include banking giants Merril Lynch and a major European investment bank.
The investment of £2.35 million secured by ICON will allow the company to fuel their further expansion into Europe and the US.