UK-based HUBX, which operates a deal syndication platform for banks and brokerage firms, has raised funding from ACF Investors’ Delta Fund and Mandalore Partners.
The capital injection was also supported by existing investors Barclays and Basinghall Partners. The size of the deal was not disclosed.
HUBX co-founder Axel Coustere said that banks are embracing end-to-end execution and improved customer experience across the value chain. As a result, the front-end deal syndication process is the next priority for improvement.
HUBX helps banks, brokers, exchanges and asset management firms execute private transactions within their own network and beyond. Clients can reduce costs around executing and syndicating private transactions and better meet deal execution deadlines, it said.
Financial institutions can digitise their syndicated lending and private placement transactions by collaborating with other organisations without sharing private data. The company can quickly share their deal syndication platform and share deals on their own terms privately.
HUBX co-founder Stephen Ong said, “We are excited to be digitally connecting more players in the private deal syndications markets. By providing a single infrastructure to large and small banks alike, we can deliver significant efficiency gains for large institutions, cost-effective cutting-edge technology to the smaller ones and digital transformation of front office operations, out of the box.”
Earlier in the year, HUBX teamed up with Finastra to help corporate lenders during the loan syndication process by reducing manual workloads.
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