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Credit trading platform Trumid raises $208m

Credit trading platform Trumid raises $208m

Electronic credit trading platform Trumid has raised $208 million in financing led by Point Break Capital Management.

Motive Partners, Senator Investment Group, Phase2 Partners, Dragoneer Investment Group, TPG, DST Global, Singapore Exchange, and funds and accounts managed by BlackRock and T Rowe Price Associates joined the round.

Trumid, headquartered in New York, offers an electronic credit-trading platform, which enables buy-side and sell-side market participants to transact directly and anonymously with one another.

The funding will be used to enhance the platform's technology and to expand into additional trading protocols, asset classes and geographies.

Mike Sobel, president, Trumid, says: “We’re thrilled to bring in investors whose expertise matches our strategic priorities. Credit market structure is evolving quickly and we’re excited to run hard at the big growth opportunities in front of us.”

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