London Fintech 9fin Secures £8 Million Series A Led by Swiss VC Redalpineby Fintechnews Switzerland October 14, 2021
9fin, a London-based provider of data, news and predictive analytics for debt capital markets, has announced an £8 million Series A round to fuel its expansion into the US.
The company will expand into the US market by opening a New York-based office following strong client demand.
Initial hiring in New York will focus on content, analytics and business operations. 9fin is also hiring across its sales, marketing, product and engineering teams.
9fin expects to double its current team of 30 people before the end of the year.
The latest investment was led by Swiss venture firm Redalpine, alongside previous investor in the company, Fly Ventures.
Angel investors Paul Forster, Co-Founder of Indeed, and Alan Morgan, Co-Founder of MMC Ventures, also participated along with Ilavska Vuillermoz Capital and a number of high net worth individuals.
To date 9fin has secured over £10 million in funding, including backing from Seedcamp and AI Seed Fund.
9fin’s tech platform uses machine learning and computer vision to extract and standardise debt capital markets data in real time.
The company’s predictive analytics helps its customers save time, spot trading opportunities and increase their share of the $65bn of debt capital markets fees earned by advisors each year.
Within the last year, the company has quadrupled its number of clients, tripled the size of its team and partnered with the European Leveraged Finance Association on legal data and analytics.
Steven Hunter, Co-Founder and CEO of 9fin said,
“We’re delighted to have the backing of new and existing investors in this round. The Redalpine team has a very strong track record of fintech investments.
We’re excited to welcome Aleksandra to our board, lending her capital markets and operational expertise to our team. This fundraise will allow us to rapidly scale and bring similar benefits to new customers, asset classes and geographies.”
Featured image: 9fin’s Co-Founders – Hussam EL-Sheikh and Steven Hunter