Bond trading platform OpenDoor Securities has netted a $10m Series A funding round to help expand its client and bank network.
The company is an anonymous trading platform for Treasuries, to enable buy-side to both source and create liquidity. OpenDoor, which is freely accessed on its browser-based platform, helps to reduce transaction costs, preservation of the dealer-sponsor model and RoE enhancement.
Currently the company’s clients include central banks, pension funds, sovereign wealth funds, primary dealers, asset managers, hedge funds and trading firms.
With this funding, OpenDoor plans to improve its connectivity to customers and increase its bank and client institutions network.
The company received a $2m seed round late 2015, and another $10m in its first Series A funding round last year. OpenDoor is the first women-owned and operated bond trading platform, according to the company.
Copyright © 2017 FinTech Global