Data platform MayStreet bags $21m in its new funding round

MayStreet, a market data infrastructure solution, has closed its Series A round on $21m, to support the global expansion of its platform.

Credit Suisse Asset Management’s FinTech growth investment division NEXT Investors led the Series A.

Having closed the round, the company will bolster its globalisation efforts, increase its product development and deepen its sales and marketing presence.

Founded in 2012, the company is creating a market data system for trading firms. Its platform gives firms a simple way to manage their capital markets data and help them generate deeper insights into how global capital markets operate.

The platform supplies both real-time and near-time intraday historical data, improving workflows ranging from trade execution and surveillance to instant market analysis, end-of-day reporting, historical back testing and more.

In tandem with the deal close, technology and market data industry veteran Rishi Nangalia will join the MaySteet board.

As well as joining the board, Nangalia will also become a strategic advisor to the firm. Prior to MayStreet, he served as the global head of buy side trading at Refinitiv.

Nangalia said, “Throughout my career, I have witnessed countless examples of legacy market data infrastructure that have caused a substantial drag on performance for firms of all types.

“MayStreet brings a powerful and scalable solution to these problems, and I’m looking forward to helping the whole team at MayStreet accelerate the growth of the impressive business they’ve built.”

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