AccessFintech has secured $20 million in Series B financing in an investment round led by Dawn Capital, with additional funding from Deutsche Bank and follow on investing from JPMorgan, Citi, Goldman Sachs
The round brings the total capital raised to date for the five-year old post-trade network to $37 million since 2018.
Since launch, AccessFintech has already gone live with 10 financial products and is in proof-of-concept or live testing with another 11 products. Market participants use the network to collaborate on exception resolution, distribute data and onboard vendors to create an ecosystem for data and workflow management.
The shared data network has the participation of many of the leading global banks and broker-dealers, custodians, asset managers and has created workflow partnerships with industry vendors and peers.
Richard Gordon, global head of securities services operations, JPMorgan comments: “We have been proud supporters of AccessFintech since their origins in our In-Residence programme and are pleased to support the next stage of their growth. We believe in creating better industry collaboration tools for our clients, our peers and ourselves so that the market as a whole can benefit from better efficiencies in post trade processes, and AccessFintech has demonstrated the ability to successfully deliver in the space.”