Citi-Backed Data Management Firm to Expand in APAC

U.K.-based enterprise data management company Solidatus said it will accelerate its growth plans in the region, following a strategic investment by Citi.

Citi, the first major investor in the startup, will also implement the Solidatus platform internally at a global enterprise level, according to an announcement on Tuesday.

Solidatus’ software helps organizations to gain greater insight and control of complex data across operational and technological ecosystems, which allows them to both satisfy regulators and react quickly to change. Its clients include retail giant Walmart and Deutsche Bank.

The Solidatus solution will support Citi’s ongoing commitment to change management, helping our global infrastructure to stay agile, efficient and robust, Chris Hayward, Citi chief data officer, said in the announcement.

Solidatus said it sees great opportunities in the Asia-Pacific market, and opened its Singapore office in 2019, which functions as its regional headquarters as it sets its sights on growth in Southeast Asia and China.

The Singapore office is led by information technology and banking industry veteran John Berven, who previously spent almost 18 years at State Street, most recently as its head of real money FX sales in Hong Kong and Singapore.