TransFICC extends Series A by $17m

TransFICC, which offers low-latency connectivity and workflow services for fixed income and derivatives markets, has scored $17m in its Series A extension.

AlbionVC served as the lead investor, with commitments also coming from AlbionVC, Citi, HSBC, Illuminate Financial, ING Ventures, and Main Incubator.

Funds from this extension will be used to expand TransFICC’s engineering teams to support additional venue connectivity and automated workflows in US rates and credit markets. These include US Treasuries, High Yield, Investment Grade, IRS, Repos, Munis, MBS and CDS products.

The FinTech company also plans to develop new products, such as an e-trading system. Other growth plans include hiring sales and customer support teams, and bolster its geographical expansion through new data centres in North America and Continental Europe.

TransFICC previously raised $7.8m in its original Series A round back in 2020.

The company claims to resolve fragmentation in fixed income markets by giving banks and asset managers a unified low-latency, robust and scalable API.

Its eTrading platform provides connectivity to multiple electronic trading venues, whilst supporting a variety of workflows across fixed income products. Its platform empowers financial institutions to access their required eTrading venues.

TransFICC co-founder Steve Toland said, “As banks and asset managers focus on automating trading workflows to deliver increased efficiency, TransFICC’s ‘One API’ has been implemented at some of the largest Fixed Income trading banks and Exchanges.

“As we build on this success, we are very happy to have attracted additional investment from our existing shareholders, which will be used to expand our Engineering teams, develop new products, open new offices in New York and Brussels, and add to our salesforce.”

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