London-based fintech 9fin is a provider of data, news and predictive analytics for debt capital markets. The fintech just announced that it has grabbed £8 million funding in a Series A round to fuel its US expansion.
The investment round was led by Redalpine along with existing investor Fly Ventures. Also, angel investors Paul Forster, Co-Founder of Indeed, and Alan Morgan, Co-Founder of MMC Ventures participated in the round along with Ilavska Vuillermoz Capital and a number of high-net-worth individuals. With this, the total investment raised by 9fin accounts for 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 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. It expects to double its current team of 30 before the end of 2021.
Steven Hunter, Co-Founder and CEO of 9fin, commented, ”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. In the last year we’ve used our analytics to predict multi-billion dollar deals, saved analysts hours of manual data extraction and allowed funds to spot lucrative trading opportunities.”
Aleksandra Laska, Partner at Redalpine, added “We are delighted to back Steven and Huss, they’re an incredibly driven team who have the ambition, network, and know-how to turn 9fin into a massive business. They have deep industry expertise in debt capital markets and have experienced the pain of poor-quality information first hand. Faster, better-quality data has huge value within this space. Whether that’s predictive analytics to spot new business opportunities or freeing up an analyst team’s time through automating the manual collection of data.”
Smarter financial intelligence
Founded by Steven Hunter and Hussam El-Sheikh, 9fin provides faster, smarter intelligence for the debt capital markets community. Its 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 $65 billion of debt capital markets fees earned by advisors each year.
Last year, the company quadrupled its number of clients, tripled the size of its team and partnered with the European Leveraged Finance Association on legal data and analytics.