TransFICC Secures $25m Series B Investment Led by Citadel Securities, BlackFin Capital Partners
Posted
TransFICC, the specialist provider of low-latency connectivity and workflow services for Fixed Income and Derivatives markets, today announced a $25 million Series B investment led by Citadel Securities, BlackFin Capital Partners and existing investors also participated. TransFICC has now raised $50 million to date from investors AlbionVC, BlackFin Capital Partners, Citadel Securities, Citi, HSBC, Illuminate Financial, ING Ventures, and neosfer (the early-stage investor and innovation unit of Commerzbank Group).
Amit Bhuchar from Citadel Securities said, “Citadel Securities has a long history of developing innovative solutions to help our clients and partners address their most complex liquidity and execution challenges. We are pleased to partner with TransFICC to shape the future of Fixed Income market making through increased automation, connectivity and efficiency.”
Michele Foradori from BlackFin Capital Partners added, “TransFICC is providing a piece of critical infrastructure for Fixed Income markets. We are excited by the pace of innovation taking place in this space and fully embrace Steve, Judd and Tom’s vision to make TransFICC the go-to solution for all market participants to electronically trade any Fixed Income product.”
Steve Toland, TransFICC co-Founder said, “Wide-ranging structural changes, including the increased adoption of algo tools, the growth of all-to-all markets and the rise of Fixed Income ETFs are driving volumes up, creating increased demand for automated solutions. TransFICC launched TransACT (Automated Customer Trading) last year to address this need in Credit and is now extending asset class coverage to Government Bonds, IRS and Repo.”
Judd Gaddie, TransFICC co-Founder said, “Now more than ever, market makers need to quote quickly to win business. TransFICC has already built data centre hosting in North America, Europe and Asia. Additionally, we are hosting our client’s applications on the TransFICC platform to reduce latency.”
Tom McKee, TransFICC co-Founder said, “Fixed Income trading firms need to support and expand venues and workflows while maximising efficiency. However, the time and development costs of connectivity can be significant. At TransFICC, our intention is to enhance our venue and workflow support so that clients can connect more quickly and at a lower cost.”
Cat McDonald, Partner AlbionVC added:
Fixed Income markets are undergoing significant structural transformation, and TransFICC’s technology is exceptionally well-positioned to capitalise on this shift. Used by numerous Tier 1 banks and Tier 1 asset managers globally, the TransFICC team led by Steve, Judd and Tom have built a mission-critical solution that is driving automation, connectivity and efficiency across Fixed Income trading.
Cat McDonald, Partner AlbionVC
The addition of Citadel Securities and BlackFin Capital Partners to the investor syndicate underscores the product’s momentum, and we are excited to support the company as it enters its next phase of accelerated growth.”
Other news
UK Innovation Update Report from HSBC Innovation Banking & Dealroom
Ed Lascelles, Partner, comments on the overview of Q1 2025 Venture Capital funding landscape
Citadel Securities Pitches Banks on Handling Their Bond Trades
Citadel Securities is enlisting a third-party firm, TransFICC, that will install its technology at banks and brokerages while sparing them the cost to connect.
