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JPMorgan takes minority stake in London-based fintech startup

JPMorgan Chase & Co. has taken a minority stake in London-based financial technology startup Mosaic Smart Data, Reuters reported March 14.

Mosaic Smart Data enables banks to run predictive analytics and artificial intelligence on trade data they hold.

The financial terms of the investment deal were not disclosed. A source told the news agency that the fintech firm will use the funds to double its staff and expand its platform to cover additional asset classes for new and existing clients.

In October 2017, JPMorgan signed a multiyear contract with Mosaic Smart Data to aid its entire fixed income trading business globally.