AccessFintech, a NYC-based fintech company operating through data and workflow collaboration, completed its Series B funding round of $20m.
The round was led by Dawn Capital. Existing investors J.P. Morgan, Citi and Goldman Sachs contributed to the round, and Deutsche Bank has participated for the first time. It brings the total capital raised to date to $37 million since 2018.
The company will use the funds to accelerate the next stage of its development, to accelerate product innovation, and to continue its go-to market expansion and extend its partner ecosystem.
Led by CEO Roy Saadon, AccessFintech has created a network of participants sharing financial data and standardising workflows. Market participants use the network to collaborate on exception resolution, distribute data and onboard vendors to create a complete ecosystem for data and workflow management. Since launch, the company has already gone live with 10 financial products and is in proof-of-concept or live testing with another 11 products. The collaboration ecosystem has the participation of many of the leading global banks and broker-dealers, custodians, asset managers and has created workflow partnerships with industry vendors and peers.