Bixby raises $5.5m Series to expand product offerings
By Delisha Fernandes
Bixby, a provider of credit information private syndicated lenders, has closed a $5.5 million Series A round led by Fitch Ventures, the equity investment arm of Fitch Group, a financial information service provider.
The company will use the funding to expand into new product lines, enhance platform functionality, and extend its reach in international markets in the coming year. The strategic partnership with Fitch Solutions will leverage complementary platforms to improve its clients’ data, research, and news offerings.
Brian Conroy, CEO and Founder of Bixby Research and Analytics, said, “I am thrilled to be collaborating with Fitch for our next chapter of growth. There are countless opportunities to collaborate with the team at Fitch to improve our product offerings and better serve our customers. As a former loan market investor,
Conroy further added “I’ve made it Bixby’s mission since day one to drive trading velocity for our clients. The capital raise will allow us to expand our platform’s reach, and the strategic partnership with Fitch will bring resources and expertise to further our mission.”
Since its product launch, the firm has used a client-centric approach to build its platform and improve upon user experience. Bixby’s proprietary software puts the news in the hands of its clients ahead of its competitors, and its standardised approach to data allows clients to look at more opportunities faster.
Shea Wallon, Managing Director at Fitch Ventures, said: “Leveraged loans are a key focus for Fitch Group. We already have a strong presence in this market across our Solutions and Ratings businesses, providing transparency to investors. It makes Bixby a great fit for us. We are pleased to support this funding round and look forward to developing our partnership with Bixby more broadly across Fitch Group.”
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