Soros, Thiel-backed Trumid raises $10m for corporate bond trading

All-to-all electronic credit trading platform Trumid Financial, has reeled in $10m in a new venture funding round, led by Delphi Financial Group.

This follows the $26m raised last October in a venture round led by billionaires George Soros and Peter Thiel.

Shumway Capital also backed the round after leading a $8.25m Series A financing for Trumid in March 2015.

Trumid, which launched in June 2014 in New York, has raised more than $55m to date.

The company’s platform works on the basis of “swarms”, trading sessions that are started when compatible orders exist.

The platform also offers a so-called “swarm-on-demand” feature, which enables bond traders to launch trading sessions on any of around 32,000 corporate securities.

Trumid says it offers anonymous and efficient trading with low transaction costs.

Copyright © 2016 FINTECH GLOBAL

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