IEX Raises $75M in Series C Funding

iex_logo_orangeIEX, a New York-based stock-trading startup, raised $75m in Series C funding.

The round was led by Spark Capital with participation from Bain Capital Ventures, MassMutual Ventures, the corporate venture capital arm of Massachusetts Mutual Life Insurance Company, global investment manager Franklin Resources, Cleveland Capital Management, TDF Ventures, Jim Clark (Netscape) and Steve Wynn (Wynn Resorts). In conjunction with the funding, Spark Capital General Partner Alex Finkelstein will join IEX Group’s Board of Directors.

The company intends to use the funds to pursue registration as a U.S. national exchange and to explore other opportunities to leverage its brand, capabilities and market position.

Led by Chief Executive Officer and Co-Founder Brad Katsuyama, IEX operates a platform for qualified broker dealers. It is a registered ATS owned by a consortium of mutual funds, hedge funds, family offices, and individuals.
According to the web site,  IEX focuses on investor protection and performance by creating a market that aims to maximize shares traded at the best available price, decreases information leakage, eliminates informational disadvantages and persistent inefficiencies, and promotes an opportunity for natural interest to interact without unnecessary intermediation.

FinSMEs

03/09/2014

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