Empirica is a financial technology software house, that helps financial institutions and FinTech startups all over the world in the development of their software systems. Besides software development services, Empirica is a vendor of Algorithmic Trading Platform, a cutting edge, server-side algorithmic trading software for professional investors. With that technology investors, traders and quants automate all quantifiable aspects of their investment activities. Empirica is now challenging the status quo of the global market of automated trading software systems. They do that through agile approach of outstanding team of software engineers, focused entirely on quality, productivity and user’s value.
Empirica was founded in 2012 by Michal Rozanski and Piotr Stawinski. Both Michal and Piotr have huge experience in many international software development projects for companies across the Europe.They bootstrapped Empirica, without external capital, and live without external investment up till now.They have noticed a huge gap on Polish capital market regarding the tools aiding algorithmic trading. Polish stock exchange (Warsaw Stock Exchange) was changing the technology behind its core system (to UTP – Universal Trading Platform – system delivered by NYSE Euronext, used on over a dozen of exchanges worldwide) which allowed for algorithmic trading regarding the speed and throughput of transactions.They decided to fill this gap by delivering a software for building, testing and executing algorithmic strategies for financial institutions and professional investors.
They have good positioning advantage on Polish market, as their system is used by a few major Polish financial institutions.They want to use this advantage to acquire 5-10 institutional customers in Poland and other Central European countries. Next year they want to go to UK and Germany. After that, probably in 2017 to US customers.
Their revenue model is based on yearly licence fees (about 70%) and consulting services (30%) related with development of algorithmic strategies for the customers, as well as integration with other back office systems.