Data and analytics platform AccessFintech is looking to capitalise on the drive on digitalisation caused by the pandemic, after the close of a $20m round.
The investment was led by Dawn Capital, with contributions also coming from J.P. Morgan, Citi, Goldman Sachs and Deutsche Bank.
Capital from the round will be used to accelerate the product innovation, continue market expansion and extend its partner network.
AccessFintech has built a network of participants sharing financial data and standardising workflows. Clients use the platform to collaborate on exception resolution, distribute data and onboard vendors to create a ecosystem for data and workflow management.
Its product suite includes pre-matching and settlements, cash payments and affirmations, bank loan, checklist manager, inventory stock record, cash transfer data distribution and supply chain management.
The company aims to improve the control, transparency, efficiency and collaboration across the whole financial ecosystem.
Dawn Capital principal Mina Mutafchieva said, “AccessFintech’s platform benefits from a new co-operative spirit in institutional financial services and a willingness to take advantage of the opportunities opened up by the latest technologies and resource models.
“ We believe AccessFintech is building a unique and critical part of the future infrastructure of capital markets and has already won the endorsement of key market participants. We look forward to supporting the team as they continue to scale and accelerate their growth.â€
The FinTech has raised a total of $37m in funding since 2018.
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