9fin, a London, UK-based analytics platform for debt capital markets, announced that it raised $23 million in Series A+ funding, bringing the company’s total raised to nearly $37 million.
Spark Capital led the round with participation from existing investors Redalpine, AI Seed, Seedcamp, 500 Startups, and Ilavska Vuillermoz Capital.
The funds will be used to scale its team, grow its presence in the US market, and expand its product into new asset classes.
Steven Hunter, co-founder, and CEO of 9fin says, “We didn’t set out to fundraise, but when we spoke with Alex and the team at Spark, they were incredibly enthusiastic about the business, and their culture and operating experience is a great fit for us. So we decided to raise opportunistically and accelerate our US GTM timing. We’ve seen incredible success with our platform in Europe and are thrilled to expand in the US. With this round, we will grow our US team to more than 70 people with new hires planned across credit, legal, and sales.”
Since 2021, the company’s clientele has more than doubled, and it has tripled its workforce size and quadrupled its ARR. 9fin will also create a new office in New York City, which will be fueled by 9fin’s recent success, client demand, and new funding. The London office and all engineering responsibilities will continue to be overseen by Hussam El-Sheikh.
With this investment, Spark Capital General Partner Alex Finkelstein will join 9fin’s Board.
Company: 9fin Limited
Round: Series A+
Funding Month: December 2022
Lead Investors: Spark Capital
Additional Investors: Redalpine, AI Seed, Seedcamp, 500 Startups, and Ilavska Vuillermoz Capital
Company Website: https://9fin.com/
Software Category: Financial Analytics Software
About the Company: Founded in 2016 by Steven Hunter and Hussam El-Sheikh, 9fin is a developer of a data analytics platform designed to provide AI-powered financial data for the fixed income market. 9fin aims to organize the world’s leveraged financial information and make it accessible and usable. Through an AI-powered data and analytics platform, the company centralizes everything that’s required to assess credit or win a mandate from one location using machine learning and computer vision. Through its platforms, 9fin offers products such as news alerts, financials, covenants, comparables, deal predictions, ESG, restructuring, and search. 9fin supports over 60 customers including nine of the top 10 investment banks, four of the top five distressed debt advisors, 80% of European HY Sales & Trading desks, and four of the top six law firms in debt capital markets.9fin is headquartered in London, with its new US office located in New York City’s Greenwich Village.