Backpack

Company Overview

Snapshot

Founded in April 2016 by Yoni Avital, Backpack operated with 11–50 employees. The company ceased operations in November 2019, having previously expanded its back-office offering for capital markets with the addition of MT5 in January 2018.

Business overview

Backpack provides Software-as-a-Service (SaaS) solutions designed to enhance the operational efficiency of financial services companies. Its core technology integrates six functionalities into a single platform, addressing a wide range of back-office needs within the capital markets industry. This includes CRM, business intelligence, payments, API, and compliance, serving financial institutions and enterprises.

Strategic signal

Backpack ceased operations in November 2019. This indicates a complete halt in the company's activities, signaling to investors and innovation teams that the venture is no longer active in the market.

Company Intelligence Q&A

What was Backpack's primary business focus?

Backpack focused on delivering SaaS solutions to help financial services companies maximize the efficiency of their business operations, particularly within the capital markets industry.

When was Backpack founded and by whom?

Backpack was founded in April 2016 by Yoni Avital.

What was a key product development for Backpack?

In January 2018, Backpack enhanced its all-in-one back-office offering for the capital markets by adding MT5 integration.

What was the operational status of Backpack?

Backpack ceased to operate in November 2019 and is currently listed as Non-Active.

Where was Backpack's initial founding location?

Yoni Avital founded Backpack out of Singapore in November 2016.