OpenDoor Trading, LLC, a Jersey City-based bond trading platform for off-the-run Treasuries and TIPS, closed a $10m funding round.
The raise was completed at a pre-money valuation of $40 million.
Backers included John Brynjolfsson, Hartfield, Titus & Donnelly, etc.
The funds will be used to support technology and business development.
Co-founded by Susan Estes and Brian Meehan less than three years ago, OpenDoor Trading provides an anonymous, browser and session-based trading platform to improve liquidity across off-the-run Treasuries (OFTR’s) and Treasury Inflation Protected Securities (TIPS), platform.
Customers include asset managers, central banks, primary dealers, hedge funds, and trading firms.
Launch is scheduled for the fall.