- Fintech-based information and workflow collaboration firm AccessFintech introduced it has raised $20 million
AccessFintech — a number one fintech firm evolving the monetary trade working model via information and workflow collaboration — introduced it has raised $20 million in Sequence B led by Daybreak Capital, Europe’s largest enterprise capital fund devoted to B2B software program. Current traders JPMorgan, Citi, and Goldman Sachs contributed to the spherical. And Deutsche Bank has participated for the primary time. Together with this spherical, the overall capital raised thus far is $37 million since 2018.
AccessFintech plans to make use of the proceeds of the funding to gas the following stage of its growth to speed up product innovation and to proceed its go-to market enlargement and prolong its associate ecosystem. The corporate has created a community of individuals sharing monetary information and standardizing workflows. And market individuals use the community to collaborate on exception decision, distribute information, and onboard distributors to create a whole ecosystem for information and workflow administration.
And since launching, AccessFintech has already gone dwell with 5 monetary merchandise and is in proof-of-concept or dwell testing with one other 11 merchandise. The collaboration ecosystem has the participation of lots of the main international banks and broker-dealers, custodians, asset managers, and it has created workflow partnerships with trade distributors and friends.
“Over the past two years our mission to evolve the financial industry operating model has gained significant traction and it is testament to the energy and skill of our team, the support of our clients and our wider network that we have reached this important milestone. We are thrilled to partner with a firm of the calibre of Dawn Capital who have an exceptional track record in working with fast growing companies in the fintech sector and who fully support our strategy. We are also excited to have worked with J.P. Morgan, Citi, Goldman Sachs and Deutsche Bank in this round – they are important partners for us in our vision of collaboration to maximize efficiencies across the market.”
— Roy Saadon, CEO of AccessFintech
“A unique combination of experienced entrepreneurs, sponsorship of key market participants and an ecosystem ready to adopt SaaS, was an ideal fit for our investment strategy. AccessFintech’s platform benefits from a new co-operative spirit in institutional financial services and a willingness to take advantage of the opportunities opened up by the latest technologies and resource models. We believe AccessFintech is building a unique and critical part of the future infrastructure of capital markets and has already won the endorsement of key market participants. We look forward to supporting the team as they continue to scale and accelerate their growth.”
— Mina Mutafchieva, Principal at Daybreak Capital
“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.”
— Richard Gordon, International Head of Securities Providers Operations, J.P. Morgan
“Our aim is to automate post-execution practices, whilst improving our user experience through the use of innovative technology solutions. Our partnership with AccessFintech represents another example of Citi’s culture to embrace collaboration with start-up technology firms. We are working closely with AccessFintech to help us on our continual drive to provide an exemplary service to our clients by reducing complexity and exceptions as we move towards a fully automated environment.”
— Steve Morgan, head of markets operations options at Citi
“The pandemic has accelerated widespread adoption of fintech, a trend clearly seen at AccessFintech in terms of new participants and volume on the platform. AccessFintech’s offer has successfully created a shared data network and workflow, enabling more collaborative and efficient exception management. We are delighted to support their development and continued success.”
— Sarah Shenton, Development Investor at Goldman Sachs
“Partnering with and investing in fintech firms as well as developing in-house expertise is essential to be at the cutting edge of financial services, as clients seek quicker and simpler electronic applications of previous processes. We are pleased to be co-investing in AccessFintech who have proven experience, creativity and expertise in driving efficiency and solving problems in the context of the global capital markets.”
— Stephen Bell, International Head of FIC and Securities Providers at Deutsche Bank