Enterprise Software - Tuesday, October 2, 2007
Compliance Crazy iBanks Fund Israel's Dynasec
Israel's Dynasec has closed a $1M funding round. It must have been an awkward deal for its backers who are not used to investing in such a penny ante affair. Investors included Deutsche Bank, Merrill Lynch, Credit Suisse Group, as well as Greek and Polish banks. Globes says that the round valued the company value of $6.7M. Investors received 15% of the company and have an option to invest an additional $500K at the same terms.
Dynasec is a spin-off of TACT Computers, which sells risk management software to enable financial institutions to comply with banking regulations.
Read - Globes
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