Wofex, Fighting to Survive, Continues Search For Funding
TRANSACTION SYSTEMS
NEW YORK--The Wofex trading system continues to seek financing in an increasingly depressed venture capital market, says CEO Richard Kelly.
The combination matching/trading system went on the block in mid-June seeking around $4 million to continue operations (TTW, June 25). But even since then, the company has had to cut down from eight to four employees, only one of whom handles technology development. The system had only progressed to beta tests before it ran out of cash, Kelly says.
Wofex has
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