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London based self-service data engineering software provider Duco has raised a $28m Series B led by Eight Roads and Insight Venture Partners, at a valuation of about $100m.
Duco, which was founded eight years ago by a computer science postgraduate from University College London, allows financial institutions to manipulate enormous amounts of data through remote internet servers, popularly known as the cloud. Duco, which employs 50 people, was founded by chief executive Christian Nentwich after the financial crisis. The business will use the cash to hire more staff and invest in expansion in the US and Asia. Its current clients include the French bank Société Générale, Holland’s ING and the broker Redburn.
https://www.thetimes.co.uk/edition/business/london-fintech-start-up-duco-raises-20m-jld2cv7g6
