Trumid, a NYC-based financial technology company and electronic trading platform for corporate bonds, received a US$53m growth capital investment.
The financing round was anchored by Singapore Exchange (SGX), a multi-asset exchange in Asia, with participation from Deutsche Börse Group.
The company intends to use the funds to further scale its US corporate bond business as well as to support the expansion of protocols, products and geographies.
Founded in 2014 by Mike Sobel, President, Trumid is a financial technology company bringing efficiency to credit trading through data, technology and innovative products. Trumid Market Center, the company’s electronic trading platform, provides corporate bond market professionals with direct access to liquidity and market intelligence. It has a large and diverse user network of 400 buy-side and sell-side institutions.
The partnership with Singapore Exchange (SGX) will allow the company to gain access to the Asian market, leveraging SGX’s regional expertise and presence.