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9fin raises Series A funding of USD 10.9 Million to fuel US expansion

9fin raises Series A funding of USD 10.9 Million to fuel US expansion
9fin raises Series A funding of USD 10.9 Million to fuel US expansion

9fin, a leading supplier of news, predictive analytics, and data for debt capital markets, has reportedly announced a Series A funding round of USD 10.9 million (£8 million) to expedite its expansion in the United States. The company is inaugurating a New York office following surging demand from current consumers in Europe.

The latest investment round was initiated by Redalpine, alongside Fly Ventures, previous investors in the firm. Angel investors Alan Morgan, MMC Ventures’ Co-Founder, and Paul Forster, Co-Founder of Indeed also took part, along with Ilavska Vuillermoz Capital and other high net-worth personnel.

To date, the company has secured more than USD 13.7 million (£10 million) worth of funds, which includes support from AI Seed Fund and Seedcamp.

Co-Founded by Hussam El-Sheikh and Steven Hunter, 9fin was created to offer smarter, faster intelligence for the community of debt capital markets. The motivation for the venture came from the vast industrial experience of the founders in financial technology and investment banking respectively.

Steven Hunter, the Co-Founder and Chief Executive Officer of 9fin stated that Debt capital markets are the largest asset class of the world, but runs on the worst quality of information, data, and technology. Many firms in this sector are not large listed businesses, and are privately owned, which means crucial insights about them are not available easily and readily.

The tech platform of 9fin uses computer vision and machine learning to standardize and extract debt capital markets data in real-time. The predictive analytics of the company helps its consumers in saving time, highlighting trading opportunities, and increasing their share of the debt capital markets fees of USD 65 billion earned by advisors every year.

Within 2020, 9fin has increased its number of clients by four times, tripled its team size, and collaborated with the European Leveraged Finance Association on analytics and legal data.

Source credits:

https://www.prnewswire.com/news-releases/9fin-raises-8m-series-a-to-expand-its-debt-capital-markets-intelligence-platform-to-the-us-301397058.html

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