TransFICC secures £13m Series A extension led by AlbionVC to expand engineering and product development
The funding extension will support team growth, venue connectivity, and new product development.
TransFICC provides low-latency connectivity and workflow services for fixed income and derivatives markets. The company builds trading technology to address fragmentation, complex workflows and regulatory demands for banks and the buy-side.
TransFICC has secured a Series A extension amounting to £13m in an investment round led by AlbionVC, with participation from all existing institutional backers. The capital injection follows the firm initial Series A raise in April 2020 and will support expansion across engineering, sales, and customer support functions.
The proceeds will be directed toward growing the engineering team, supporting additional venue connectivity in US rates and credit markets, and developing new products including a complete electronic trading system with a trader desktop interface. Furthermore, the funding facilitates geographical expansion with new data centres planned for North America and continental Europe.
TransFICC addresses market fragmentation by supplying major banks and asset managers with a single application programming interface for electronic trading. The company currently counts eight top tier investment banks and two large exchange groups among its client base.
From the founder
"As banks and asset managers focus on automating trading workflows to deliver increased efficiency, TransFICC’s ‘One API’ has been implemented at some of the largest Fixed Income trading banks and Exchanges,"
Steve Toland
Co-Founder at TransFICC
Use of funds
- 01Grow the team
- 02Continue product development
- 03Expand into international markets
- 04Invest in sales and marketing
