Trading analytics startup Tradefeedr has picked up $3m in early-stage capital, predominantly from private investment company IPGL.
Michael Spencer, founder of global markets company ICAP, is the owner of IPGL and has spearheaded its growth as a FinTech investor.
Balraj Bassi and Alexei Jiltsov co-founded Tradefeedr in 2018 after having previously worked together at Lehman Brothers.
“We believe that our platform will deliver significant benefits to market participants, through improving collaboration and giving better access to trading information, which will lead to enhanced decision making,” they said. “There is a huge demand for greater transparency in financial markets and Tradefeedr can help meet that demand.”
Seth Johnson, former CEO of NEX Markets, also supported the raise and has been appointed as Tradefeedr’s chairman to support the business in its development.
“I am delighted to become chairman of Tradefeedr and have the opportunity to back the business,” he said. “Tradefeedr is precisely the type of company we used to look to invest in when I was at NEX – one with great technology, a great product and great growth potential, as well as talented and expert founders. I am looking forward to working with Balraj and Alexei to help them deliver on the company’s potential.”
Spencer added, “Tradefeedr is a really promising financial technology business, with the right combination of technical knowhow and market wisdom and I am very pleased to be able to back it at this stage in its development. I believe they have an excellent product and I wish Seth, Balraj and Alexei every success.”
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