9fin Secures £40m to Drive US Expansion
Deal News | Dec 03, 2024 | Business Cloud
9fin, a London-based FinTech company, has successfully raised £40 million in a Series B funding round led by Highland Europe, alongside existing investors such as Spark Capital and Seedcamp. The funds are poised to expand their AI-driven analytics platform for debt capital markets, particularly targeting the U.S. market. Since its Series A+ funding in 2022, 9fin has achieved a 400% growth in Annual Recurring Revenue (ARR), with significant contributions from its rapidly expanding U.S. business. Currently employing 240 people, 9fin has doubled its technology team, which has enhanced product development speed and expanded its customer base to around 200 major firms in the global credit market. The company's innovative platform integrates generative AI, offering cutting-edge credit market intelligence. Co-founders Steven Hunter and Huss El-Sheikh express their enthusiasm around setting new industry standards through AI and expanding 9fin's presence, aiming to establish it as a leader in debt market analytics.
Sectors
- FinTech
- Debt Capital Markets
- Artificial Intelligence
Geography
- United Kingdom – 9fin is headquartered in London, making the UK a primary geographic focus.
- United States – The expansion into the U.S. market is a significant focus of 9fin's growth strategy as outlined in the article.
Industry
- FinTech – The article revolves around 9fin, a financial technology firm leveraging AI to provide analytics for debt markets.
- Debt Capital Markets – 9fin focuses on providing intelligence and analytics in the debt capital market space, using AI-powered solutions for bonds, loans, and other credit instruments.
- Artificial Intelligence – 9fin's platform is built around AI technology, offering advanced analytics and search capabilities to its users.
Financials
- £40 million – Amount raised by 9fin in their Series B funding round.
- 400% – Growth in group-wide Annual Recurring Revenue since Series A+ round in 2022.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| 9fin | Target company | Company | A London-based fintech company offering AI-powered 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 | Existing investor in 9fin, participating in the Series B funding round. |
| Redalpine | Investor | Company | Participated in 9fin's Series B funding round. |
| Seedcamp | Investor | Company | Participated in 9fin's Series B funding round. |
| 500 Startups | Investor | Company | Participated in 9fin's Series B funding round. |
| Ilavska Vuillermoz Capital | Investor | Company | Participated in 9fin's Series B funding round. |
| Steven Hunter | Co-founder and CEO | People | Co-founder and CEO of 9fin. |
| Huss El-Sheikh | Co-founder and CTO | People | Co-founder and CTO of 9fin. |