9fin, a London-based fintech, has successfully raised $50 million in a Series B funding round, signaling confidence in its AI-driven analytics platform.
- The company’s focus on deploying AI in debt capital markets aims to revamp outdated technologies and provide efficient data solutions.
- With over 200 institutional clients, 9fin is driving expansion primarily in the rapidly growing U.S. market.
- The fresh capital, led by Highland Europe, involves a mix of new and existing investors.
- Despite financial progress, 9fin reports a significant operating loss, attributed to increased expenses.
London’s fintech sensation, 9fin, has successfully secured $50 million in its latest Series B funding round. This achievement marks a significant milestone in their quest to enhance AI-driven analytics for debt capital markets.
The startup aims to transform conventional debt market technology, described as ‘opaque, slow, and messy’ by 9fin’s co-founder and CEO, Steven Hunter. According to him, the integration of generative AI into 9fin’s platform has empowered market professionals with smarter and faster intelligence and added capabilities like chatbots and real-time market updates.
9fin’s platform, which focuses on high-yield bonds, leveraged loans, and other debt instruments, has already reached over 200 institutional customers. Their services cater to clients whose assets collectively total over $17 trillion. The company’s strategy prominently includes expanding its footprint in the United States, with growth outpacing other regions.
Highland Europe led this funding round and was supported by recurring investors such as Spark Capital, Redalpine, Seedcamp, 500 Startups, and Ilavska Vuillermoz Capital. Fergal Mullen, co-founder and partner at Highland Europe, praised 9fin’s technological vision and strong company culture as primary reasons for their investment. He remarked on the booming state of debt markets and the need for advanced data solutions.
Even though 9fin successfully raised funds two years ago without actively seeking capital, they’ve shown remarkable growth in the company’s latest accounts. For the year ended December 2023, 9fin recorded a turnover of £7.2 million, marking a 124% increase from the previous year. However, soaring expenses resulted in a significant operating loss of £10.4 million, highlighting the challenges that lie ahead.
9fin’s recent funding success and strategic expansion efforts underscore its commitment to innovation in the debt market analytics space.
