Bond trading platform Electronifie has raised $3.86m from venture capital investors in a new financing round.
The company, founded in 2013, runs an online marketplace for trading in US investment grade and high-yield corporate bonds.
To date, the New York-based business has raised $9.6m, including a $5.74m Series A round in March last year and a $7.13m debt financing.
Electronifie is led by CEO Amar Kuchinad, a former senior policy advisor in the trading and markets division of the US Securities and Exchange Commission (SEC).
Eric Allmendinger, former technology director of FTI Consulting, is acting as chief operating officer and chief compliance officer of Electronifie.
Ian McAllister, who has 14 years of experience at Credit Suisse, is responsible for finance and technology at the company.
In a company statement from December 2015, McAllister said, “Our mission while building the Electronifie marketplace was to create a platform that fits into a trader’s existing workflow while introducing mechanisms to eliminate gaming and uncover new sources of risk-free institutional-sized liquidity.
“We have effectively applied leading-edge technology and processes to create a platform that is incredibly nimble at implementing customer feedback.”
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