Redalpine led the investment round, and was joined by previous investors Fly Ventures, and high net worth angels. Total investment raised to date is over £10M.
9fin, a leading provider of data, news and predictive analytics for debt capital markets, has today announced an £8M Series A round to fuel its expansion into the US. The company is opening a New York office following increased demand from existing customers in Europe.
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The latest investment was led by Redalpine, alongside previous investors in the company, Fly Ventures. Angel investors Paul Forster, Co-Founder of Indeed, and Alan Morgan, Co-Founder of MMC Ventures, also participated along with Ilavska Vuillermoz Capital and a number of high net worth individuals. To date 9fin has secured over £10M in funding, including backing from Seedcamp and AI Seed Fund.
Co-founded by Steven Hunter and Hussam El-Sheikh, long-time friends from University, 9fin was created to provide faster, smarter intelligence for the debt capital markets community. The inspiration for the venture came from the founders’ extensive industry experience of working within investment banking and financial technology respectively.
Steven Hunter, Co-Founder and CEO of 9fin, commented, “Debt capital markets is the world’s largest asset class, but it operates using the worst quality data, information, and technology. Many companies in this space aren’t large listed businesses, they’re privately owned, that means important information about them isn’t readily or easily available.
When I worked in banking and asset management, I felt like I’d 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.”
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Hunter continued, “We’re delighted to have the backing of new and existing investors in this round. The Redalpine team has a very strong track record of FinTech investments. We’re excited to welcome Aleksandra to our board, lending her capital markets and operational expertise to our team. In the last year we’ve used our analytics to predict multi-billion dollar deals, saved analysts hours of manual data extraction and allowed funds to spot lucrative trading opportunities. This fundraise will allow us to rapidly scale and bring similar benefits to new customers, asset classes and geographies.”
9fin’s tech platform uses machine learning and computer vision to extract and standardise debt capital markets data in real time. The company’s predictive analytics helps its customers save time, spot trading opportunities and increase their share of the $65bn of debt capital markets fees earned by advisors each year.
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