9fin Secures $50 Million Series B to Expand Debt Market Operations
Deal News | Dec 02, 2024 | UK Tech Funding
London-based startup 9fin has successfully closed a $50 million Series B funding round, led by Highland Europe. Specializing in AI analytics technology for debt capital markets, 9fin has grown its customer base to over 200 institutional clients and assets worth in excess of $17 trillion. The company plans to utilize this latest capital injection to expand its debt capital markets analytics platform, particularly focusing on the rapid growth of its US operations. Founded in 2016, 9fin distinguishes itself by incorporating generative AI into its platform, offering advanced tools such as chatbots, real-time market updates, and comprehensive search functionalities. Despite a 124% increase in turnover to £7.2 million for the year ended December 2023, 9fin reported an operating loss of £10.4 million due to heightened expenses.
Sectors
- Financial Technology (FinTech)
- Debt Capital Markets
- Artificial Intelligence
Geography
- United Kingdom – 9fin is based in London, making the UK a primary hub for its operations.
- United States – The expansion of 9fin's operations is particularly focused on the rapid growth in the US market.
Industry
- Financial Technology (FinTech) – 9fin operates within the financial technology sector by providing AI-driven analytics for debt capital markets.
- Debt Capital Markets – The focus of 9fin's platform is on debt markets, providing intelligence for bonds, loans, and other credit-related financial products.
- Artificial Intelligence – 9fin utilizes AI technology to enhance its analytics platform, offering innovative tools for market participants.
Financials
- 50,000,000 – The amount raised by 9fin in its Series B funding round.
- 7,200,000 – 9fin's turnover for the year ended December 2023.
- -10,400,000 – 9fin's operating loss for the year ended December 2023.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| 9fin | Target Company | Company | A London-based startup providing AI analytics for debt capital markets. |
| Highland Europe | Lead Investor | Company | A growth capital firm that led the Series B funding round for 9fin. |
| Spark Capital | Investor | Company | An existing investor in 9fin that participated in the Series B funding round. |
| Redalpine | Investor | Company | An existing investor in 9fin, taking part in the Series B funding. |
| Seedcamp | Investor | Company | An early-stage investment fund that is an existing investor in 9fin. |
| 500 Startups | Investor | Company | A global venture capital firm supporting the Series B funding round. |
| Ilavska Vuillermoz Capital | Investor | Company | Another investor participating in 9fin’s Series B funding. |
| Steven Hunter | Co-founder and CEO | Person | Co-founder and Chief Executive Officer of 9fin. |
| Fergal Mullen | Co-founder and Partner | Person | Co-founder and partner at Highland Europe, involved in the investment round. |