""Tech News"" – Google News
London-based fintech 9fin is a data, news and predictive analytics provider for the debt capital markets. The fintech just announced that it has raised £ 8 million in funding in a Series A round to drive its expansion in the US.
The investment round was led by Redalpine together with the existing investor Fly Ventures. The round was also attended by angel investors Paul Forster, co-founder of Indeed, and Alan Morgan, co-founder of MMC Ventures, along with Ilavska Vuillermoz Capital and a number of high net worth individuals. This brings the total investment raised by 9fin to over £ 10 million.
9fin will use the proceeds of this round to expand into the US market and is opening an office in New York due to strong customer demand. Initial recruitment in New York will focus on content, analytics and business operations. 9fin is also hiring across its sales, marketing, product and engineering teams. The current team of 30 is to be doubled by the end of 2021.
Steven Hunter, Co-Founder and CEO of 9fin, commented, “We are excited to have the support of new and existing investors in this round. The Redalpine team has a very strong track record of fintech investments. We are pleased to welcome Aleksandra to our board and to make her capital market and operational know-how available to our team. Over the past year, we’ve used our analytics to predict multi-billion dollar deals, save analysts hours of manual data extraction, and enable funds to spot lucrative trading opportunities. “
Aleksandra Laska, Partner at Redalpine, added, “We are excited to support Steven and Huss. You are an incredibly motivated team with the ambition, the network and the know-how to make 9fin a huge company. You have extensive industry knowledge of the debt capital markets and have experienced the pain of inferior information firsthand. Faster, higher quality data has tremendous value in this area. Whether it is about predictive analyzes to identify new business opportunities or about saving time for a team of analysts by automating manual data collection. “
Smarter financial intelligence
Founded by Steven Hunter and Hussam El-Sheikh, 9fin brings faster, smarter information to the debt market community. The platform uses machine learning and computer vision to extract and standardize data on debt capital markets in real time. The company’s predictive analytics help clients save time, identify trading opportunities, and increase their share of the $ 65 billion annual debt market fees earned by advisors.
Over the past year, the company has quadrupled its number of clients, tripled the size of its team, and partnered with the European Leveraged Finance Association in the field of legal data and analysis.