Wematch raises a further US$8.5 million at second close of Series B funding
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Wematch raises a further US$8.5 million at second close of Series B funding 16 December 2021United Kingdom Reporter: Bob Currie
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Wematch has confirmed the second close of a Series B funding round which has raised US$28 million in total.
Several new companies have become investors in Wematch through this second close, including Barclays and CE Innovation Capital.
Existing investor Societe Generale also participated in this second tranche, which closed on 3 December, raising a further US$8.5 million.
This Series B funding was led in October by DB1, the corporate venture capital arm of Deutsche B枚rse. JP Morgan, Augmentum Fintech and Illuminate Financial were among the other companies that have invested in Wematch in the first close of this Series B funding round.
Wematch indicates that these investors support the company鈥檚 vision to help the capital market to adopt further digital solutions across markets globally and to apply this technology to internal and client-facing solutions.
Barclays head of Delta1 trading for EMEA Spyros Varoutsis says: 鈥淏y combining our [Barclays and Wematch] strengths, we can drive innovation and automation in trading technologies, bringing efficiencies for market participants and best-in-class trading solutions for our clients.鈥�
Societe Generale鈥檚 deputy head of sales for global markets Albert Loo says: 鈥淪ince the early days of our relationship, [the] Wematch team continually demonstrated its ability to deliver cutting-edge platforms and technology. Societe Generale naturally renews its trust through participating in the Series B and is delighted to welcome new investors to accelerate Wematch technology adoption across markets and participants.鈥�
Zheng Cui, partner at CE Innovation Capital, adds: 鈥淲e believe Wematch鈥檚 mission-critical technology solution, covering trade discovery to workflow and compliance, is the key to drive the digitalisation of the derivatives market. As a global fintech investor, we are excited to be part of Wematch鈥檚 story.鈥�
Wematch CEO Joseph Seroussi says: 鈥淲e are very excited in welcoming Barclays and CE Innovation Capital as new investors and very thankful for the continued support from Societe Generale.鈥�
Wematch develops web-based solutions to deliver automated matching, negotiation and lifecycle management for transactions including securities lending and borrowing, total return swaps, interest rate derivatives and equity derivatives. This offers a one-stop solution across a range of asset classes.
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