Bond trading fintech Trumid secures $208m in financing to fuel growth
Digital bond trading platform Trumid has secured $208 million in new financing, taking its total capital raised to more than $660 million.
The latest round was led by Point Break Capital Management and saw participation from fintech-focused Motive Partners, Senator Investment Group, Phase2 Partners and existing investors including Dragoneer Investment Group, TPG, DST Global and Singapore Exchange.
Founded in 2014 in New York, Trumid offers an electronic trading platform for corporate bonds.
The firm claims daily trading volumes on the platform are now almost seven times higher than two years ago with YTD average daily volume increasing 71% in 2021.
Trumid president Mike Sobel says credit market structure is “evolving quickly” and the latest investment will allow the fintech to make the most of the “big growth opportunities in front of us”.
The fintech says the new cash will be used to further develop its technology and to add additional trading protocols and asset classes as well as expand into new global markets.