Xignite raises $20.5m

Xignite raises $20.5m

American cloud-based data supplier Xignite is setting its sights on the Asian market after raising $20.5 million in a Series C funding round led by a unit of Japan's biggest financial information provider, Nikkei.

Nikkei's Quick Corporation was joined by StarVest Partners, Altos Ventures, and Startup Capital Ventures in the round, which brings Xignite's total funding to $37 million. Quick managing director Atsuyuki Nakajima will join Xignite’s board.

The new funding will be used to beef up sales and marketing in a push for global growth, with a focus on Asia. This will benefit from a deal that sees Xignite and Quick work together to push the US firm's cloud-based data solutions in the Asian market. Quick's proprietary financial data and information will also be delivered through Xignite’s APIs.

Stephane Dubois, CEO, Xignite, says: "Fintech innovators continue to put pressure on more traditional financial services companies. These legacy institutions must innovate and simultaneously cut costs if they want to survive and thrive in this new paradigm. This includes the complex, burdensome and costly consumption of financial data. We are excited to have Quick’s backing and shared vision of an advanced, global market data cloud infrastructure."

Noboru Yoshioka, president and CEO, Quick, adds: "By combining our experience and leading position in Asia with Xignite’s technology and innovation, we have a unique opportunity to capture the growth in this market."

Comments: (1)

Andrew Miller
Andrew Miller - Net Effect Ltd - London 08 February, 2016, 16:04Be the first to give this comment the thumbs up 0 likes

I think this is an interesting and promising move.  A suitable cloud infrastructure and well-defined APIs that allow integration with incumbant and alternative platforms (including contributions and, hopefully, peer-to-peer sharing) could do well as a global initiative.