London-based 9fin successfully raised $50m in a Series B funding round.
- The company aims to bolster its presence in the debt capital markets with refined analytics.
- Founded in 2016, 9fin integrates generative AI into its platform, pioneering real-time updates.
- The firm’s growth is notably rapid in the United States, marking a strategic focus.
- New investment follows a $23m raise in 2022, indicating strong investor confidence.
In an impressive financial feat, London-based startup 9fin has achieved significant investment success by securing $50 million in a Series B funding round. This capital influx is set to energise its analytical capabilities in the debt capital markets.
The company is committed to advancing its platform, which presently serves over 200 institutional clients with a collective asset value surpassing $17 trillion. Their suite is comprehensive, offering insights on high-yield bonds, leveraged loans, and more niche areas like distressed debt and asset-backed finance.
Interestingly, 9fin distinguishes itself by embedding generative AI technologies within its platform. This allows it to offer users a unique blend of real-time market updates and highly sophisticated search functions. According to Steven Hunter, the CEO and co-founder, “Debt markets are the biggest overlooked asset class in the world,” and 9fin aims to change this dynamic by introducing smarter, faster intelligence for professionals in the sector.
The latest funding represents a concerted effort to scale the company’s footprint particularly in the U.S., where demand for its services has been markedly rising. This geographical focus underscores the strategic expansion plans of 9fin.
The funding round was spearheaded by Highland Europe, with additional backing from Spark Capital, Redalpine, and other investors. Their collective confidence in 9fin is evident, bolstered by the firm’s noteworthy revenue growth—£7.2 million in turnover for the year ending December 2023, marking a 124% increase from the previous year—despite operational challenges.
Additional evidence of 9fin’s momentum is its ability to attract investment without actively seeking new capital back in 2022 when it raised $23m. The company’s laser focus on technology and data offering, as mentioned by Fergal Mullen of Highland Europe, sets it apart as a leader in its market.
9fin’s progressive integration of advanced AI into debt market analytics highlights its pioneering role in revolutionising financial technology.
