Trading fintech Trumid raises $208m

Growth capital from this financing will enable Trumid to further enhance its technology and to expand its footprint

Trumid, the electronic credit trading provider, has secured $208 million of financing.

The financing round was led by Point Break Capital Management, with significant participation from Motive Partners.

They were joined by Senator Investment Group, Phase2 Partners and existing investors, including Dragoneer Investment Group, TPG, DST Global, Singapore Exchange (SGX), and funds and accounts managed by BlackRock and T. Rowe Price Associates. 

Growth capital from this financing will enable Trumid to further enhance its technology and to expand its footprint to include additional trading protocols, asset classes and geographies.

New York, USA-headquartered Trumid provides global credit trading solutions that have experienced significant market share and client activity growth. 

Daily trading volumes on the Trumid platform have grown rapidly, now almost seven times higher than two years ago. In 2021 alone, year-to-date average daily volume has increased 71% year over year.

In addition to Trumid’s US corporate bond franchise, the company has recently added emerging market debt to its platform.

The fintech says its partnership with Point Break Capital Management, a private investment firm with significant experience and relationships in global financial markets and deep roots in Latin America, corresponds well with the its expansionary initiatives in emerging market debt.

Commenting on the new financing, Mike Sobel, president of Trumid, says: “Strong partnership with our community of clients and investors is how Trumid drives sustainable innovation and value.”

“We’re thrilled to bring in investors whose expertise matches our strategic priorities. Credit market structure is evolving quickly and we’re excited to run hard at the big growth opportunities in front of us.” 

Ashwin Kumar, industry partner at Motive Partners, comments “Trumid’s strong performance demonstrates its ability to deliver efficient trade execution and support global credit trading through outstanding technology.”

“We see great potential for the creation of long-term value in the business and expect this round of funding to enable the company to achieve its expansion plans. We’re delighted to make our extensive resources in technology and innovation available to help the Trumid team drive those plans forward.”

Image: Trumid

Mark Dugdale