Trumid, a NYC-based fintech company that provides an electronic trading network for corporate bonds, received a $10m investment from Deutsche Börse Group.
Deutsche Börse made a minority investment via DB1 Ventures, its corporate venture capital arm.
The company intends to use the funds to continue enhancing and expanding its technology offering. Both firms will work together to develop products and services for the European market.
Founded in 2014 and led by Mike Sobel, President, Trumid is a fintech startup that offers an electronic credit-trading platform, which enables buy-side and sell-side market participants to transact directly and anonymously with one another. The platform allows market participants to collectively determine pricing in a transparent way and to execute the transaction at the market-vetted price.