Axoni, a New York-based provider of data synchronization technology and financial market infrastructure, raised $20M in Equity financing.
The round was led by EJF Ventures, with participation from Laurion Capital Management, Communitas Capital, and existing investors (which included Andreessen Horowitz, Citi, CME Ventures, Coatue, DCG, Deutsche Bank, DCVC, FinTech Collective, F-Prime, Franklin Templeton, Goldman Sachs, HSBC, Intel Capital, J.P. Morgan, LSEG, Nyca Partners, UBS, Wells Fargo, and Y Combinator).
The company, which has raised more than $110M since inception, intends to use the funds to expand operations and its business reach.
Founded in 2017 and led by CEO Greg Schvey, Axoni specializes in the coordination of data across financial institutions. Its AxCore software synchronizes data across enterprises, solving coordination problems between large companies. By guaranteeing data is continually and automatically replicated in real time, with guaranteed accuracy and completeness, the technology reduces cost, risk, and errors when moving trade data and other critical information between financial institutions.
Axoni software has been deployed or is in development in a wide range of markets, including:
- Cleared stock loan transactions at OCC (Options Clearing Corporation)
- Global credit derivatives in partnership with The Depository Trust & Clearing Corporation (DTCC)
- Global communications platform for primary issuance of corporate bonds in partnership with DirectBooks
- Global equity swaps in partnership with a consortium of leading market participants
- Global derivatives platform slated to launch in 2023
Since its founding in 2017, Axoni’s client base has grown to include many of the world’s leading market infrastructure companies, asset managers, hedge funds, and global banks in the United States, Europe, and Asia.
FinSMEs
26/04/2023