A London-headquartered FinTech has secured backing from investors in unicorns Robinhood and N26.
9fin has built an intelligence platform for the debt capital market and is already used by nine of the top 10 investment banks in Europe.
The 拢8 million Series A round was led by Redalpine – backers of American trading platform Robinhood and German digital bank N26 – and will help 9fin expand in the US as it opens a New York base.聽
The company鈥檚 predictive analytics helps its customers save time, spot trading opportunities and increase their share of the $65 billion of debt capital markets fees earned by advisors each year.
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鈥淒ebt capital markets is the world鈥檚 largest asset class, but it operates using the worst quality data, information, and technology,鈥� said co-founder and CEO Steven Hunter.聽
鈥淢any companies in this space aren鈥檛 large listed businesses, they鈥檙e privately owned, that means important information about them isn鈥檛 readily or easily available.聽
鈥淲hen I worked in banking and asset management, I felt like I鈥檇 been teleported back 40 years in terms of the data and technology our market used. Finding simple things like earnings, price sensitive news flow, and key offering documents was incredibly painful. 9fin was created to fix that.鈥�
Within the last year, the company has quadrupled its number of clients, tripled the size of its team and partnered with the European Leveraged Finance Association on legal data and analytics.