9fin, an analytics platform for debt capital markets, has secured $23m in its Series A+ funding round, which was led by Spark Capital.
Other commitments came from existing investors Redalpine, AI Seed, Seedcamp, 500 Startups, and Ilavska Vuillermoz Capital.
With the funds, the company plans to hire more staff, bolster its presence in the US and expand its product into new asset classes.
Headquartered in London, 9fin is on a mission to organise the world’s leveraged finance information and make it accessible and useful through its data, news and predictive analytics platform.
Through machine learning and computer vision, it centralises financial intelligence so teams can analyse a credit or win a mandate in one platform.
9fin CEO and co-founder Steven Hunter said, “We didn’t set out to fundraise, but when we spoke with Alex [Finkelstein] and the team at Spark, they were incredibly enthusiastic about the business and their culture and operating experience is a great fit for us. So we decided to raise opportunistically and accelerate our US GTM timing.
“We’ve seen incredible success with our platform in Europe and are thrilled to expand in the US. With this round, we will grow our US team to more than 70 people with new hires planned across credit, legal and sales.”
Its technology supports over 60 customers, including nine of the top ten investment banks. Other clients are four of the top five distressed debt advisors, 80% of European HY Sales & Trading desks and four of the top six law firms in debt capital markets.
In line with the deal, Spark Capital general partner Alex Finkelstein will join the 9fin board of directors.
The company has raised a total of $37m in funding. The analytics platform previously raised £8m in its Series A round in October 2021.
Copyright © 2022 FinTech Global
