back Back

AccessFintech raises $60m in Series C round

By Leandra Monteiro

September 26, 2022

  • Accessfintech
  • Bny Mellon
  • Citi Group
Share

AccessFintech, AccessFintech, FinTech company evolving the capital markets operating model through data and workflow collaboration, announced the successful completion of its $60 million Series C funding round, led by WestCap.

As the lead investor, WestCap brings deep experience building and scaling transformational software for capital markets with companies including Ipreo, iLEVEL, BrokerTec, Tradeweb and SIMON Markets.

Kevin Marcus, Partner, WestCap, said, “Behind an exceptional leadership team, AccessFintech has established itself as the technology partner trusted to solve long standing workflow challenges on behalf of the world’s leading financial institutions, creating a powerful data collaboration network, driving massive efficiency gains and unlocking pools of capital for its customers. AccessFintech’s sharing and pairing solution is the industry’s answer to complex issues such as the Central Securities Depositories regulation and penalty management, pre-matching and the transition to T+1 settlement.”

Additional investment was secured from BNY Mellon and Bank of America, with further participation from Series B investors Dawn Capital, J.P. Morgan, Goldman Sachs and Citi Group. The company’s latest funding round follows a $20 million Series B and brings the total capital raised to $97 million since 2018. The additional funds will be used to accelerate AccessFintech’s growth as it expands its collaborative data management network to additional markets. AccessFintech’s Board of Directors will be joined by Kevin Marcus, Partner at WestCap and former President of Ipreo, and Caroline Butler, Global Head of Custody at BNY Mellon.

The funding comes at the heels of rapid growth for the firm. Synergy, AccessFintech’s data collaboration network, has grown to include over 100 participants and expanded its asset class coverage to include derivatives and syndicated loans. It has also added to its securities offering by extending its lifecycle management through its new claims network and the launch of a ground-breaking predictive fails service. The Synergy Network leverages an innovative, cloud-based approach to data custody and management to reduce transactions costs and compress fees through collaboration and accelerated workflows, and helps organisations meet regulatory requirements. It is used by a growing number of leading global banks and broker-dealers, custodians, and asset managers.

Roy Saadon, CEO, AccessFintech, said, “We are fortunate to fuel our next stage of growth with partners that combine a highly regarded growth VC and global strategic investors. We share the vision of data being the catalyst for innovation and growth and the critical role AccessFintech plays as an essential provider of trusted data governance infrastructure. We are poised for a period of significant expansion and look forward to working with all our investors as we launch in additional markets.”

Previous Article

September 26, 2022

Wise Platform rolls out its new International Receive Service

Read More
Next Article

September 26, 2022

amana launches its all-in-one trading app

Read More






IBSi Daily News Analysis

regulations,

June 11, 2024

Accessfintech

Payments industry urges delay of APP fraud rules amid leadership change at Payment Systems Regulator

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Commencis launches new Turkish LLM for banking & financial services

Read More

Today

Nigeria’s Islamic Finance sector eyes growth amid higher capital requirements

Read More

June 11, 2024

Public-facing applications and APIs are the most common targets of cyberattacks

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023