ING spin-out fintech Katana Labs shuts down
Trade analytics tool provider Katana Labs is understood to be closing down.
Katana Labs is no more
“I regret to announce that Katana Labs will cease to operate as of January 31, 2022,” Santiago Braje, the fintech’s founder and CEO, writes on LinkedIn.
Katana started its life in 2017 as part of ING and was spun out into a standalone London-based company in 2019, with the bank’s backing.
Its flagship offering is a bond market trade discovery tool for dealers and asset managers that identifies specific trade ideas and broader trends. Using machine learning and big data cloud technologies, the tool analyses over 40 million bond pairs to identify over/undervalued pairs and reveals actionable trade opportunities, the fintech says.
It’s available on the Bloomberg Terminal at APPS KTNA.
“I am grateful for having had the opportunity to work with such a talented and dedicated team, for the support of our investors and the trust of our clients and partners,” Braje writes.
“Although this is not the outcome we hoped for, I am proud of the cutting-edge technology and the exciting product that we developed, which was successfully adopted by leading bond investors.”
Braje, former global head of credit trading at ING, describes his time at Katana as “a challenging but extremely enriching journey”, adding that as he closes this chapter, he looks forward to the next challenge in 2022.
