Business
Strategic Investment
Strategic Investment.
About this update from Braemar Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1377E\n Braemar Shipping Services PLC\n 03 November 2020\n \n \n \n \n 3 November 2020\n \n \n BRAEMAR SHIPPING SERVICES PLC\n \n \n (\"Braemar\", the \"Company\" or the \"Group\")\n \n \n \n \n \n Strategic Investment\n \n \n \n \n \n \n \n \n Braemar Shipping Services plc (\"Braemar\", the \"Company\" or the \"Group\"), a leading international provider of shipbroking, financial advisory, logistics and engineering services principally to the shipping and energy industries is pleased to announce a new strategic investment in Zuma Labs, a cutting edge software development company operating in the shipbroking and trading technology space.\n \n \n \n \n \n Since early 2020, Zuma Labs has been working closely with Braemar's Shipbroking (Braemar ACM Shipbroking) and Dry Freight derivatives (Braemar Atlantic Securities) businesses to develop and integrate cutting edge technology and data platforms. Led by former trader and shipping technologist Chase Bennett, Zuma is staffed by experienced fintech engineers and data scientists. Zuma, which is majority owned by Fractal Technologies Limited, will enable these two businesses to better navigate and harness the technology trends of the coming years. Combined with Braemar's leading market presence, this partnership will support Braemar's ability to continue to provide the innovative and high quality client services on which Braemar's brand is built.\n \n \n \n \n \n By elevating technology throughout its operations, Braemar aims to maximise the value-add of its services to its customers. With new, bespoke tools tailored to the demanding needs of the Group's shipbroking and derivatives broking businesses and their customers, Braemar aspires to help launch a new era of efficiency and transparency in the maritime space.\n \n \n \n \n \n Zuma Labs looks to provide inventive solutions to critical problems in systemically important industries. The core product offering, Venetian, is a web-based platform for OTC physical and derivatives markets. Venetian streamlines the entire broking process from quote to clearing, eliminating bottlenecks, and empowering brokers to spend more time on closing deals. By streamlining core processes, Venetian channels vast amounts of previously unutilized data into industry-first offerings, yiel...