Propellant.digital, the analytics FinTech that processes and scrutinises global trading data to guide business decisions, has clinched a strategic investment led by Volta Ventures. This early-stage venture capital firm is known for backing promising software start-ups.
This recent financing round saw the participation of Volta Ventures, aiming to enhance the trading analytics platform and foster business growth for Propellant.digital. However, the exact amount raised was not specified in the press release.
With its unique approach to the opaque Fixed Income market, Propellant.digital gathers all global Fixed Income trading activities, streamlining the information into a coherent and actionable format. Clients are then able to access both public and proprietary trading activity data from cash, Fixed Income derivatives, and ETFs worldwide. The data is normalised, cleaned, and validated before being made available to the clients, effectively addressing the fragmentation in the Fixed Income market.
This fresh capital injection is planned to be directed towards enhancing the analytics offering and scaling up the Propellant.digital platform. The funding will also help the company recruit more developers and salespeople to expand its clientele, which includes both buy-side and sell-side clients.
Despite the complexity of Fixed Income markets, Propellant.digital’s platform has already attracted 27 clients since its launch in mid-2021. These include 8 of the world’s top 10 Fixed Income trading banks, 2 asset managers, 2 hedge funds, and 4 trading venues. The platform is built to meet ISO 27001 requirements, adding credibility to its data handling capabilities.
Vincent Grandjean, CEO of Propellant, said, “Since launching in 2021, we have been diligent about creating a reliable and top-quality offering and have grown rapidly with a diverse range of clients. This new investment allows us to continue to enhance our range of analytics and scale our platform, to hire more developers and salespeople to add to our growing list of buy-side and sell-side clients.”
Echoing his sentiment, Sander Vonk at Volta Ventures said, “Vincent and Allan have identified an opportunity to help buy-side and sell-side firms capture and analyse Fixed Income trading activity, to improve market transparency for all parties. Propellant’s rate of growth has been impressive, with 27 clients live only 18 months after launching the company. We believe there is a significant opportunity for further growth, not only in the Fixed Income market, but also in other areas of Financial Markets.”
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