Deutsche Bank And UBS Invest In Axoni

Distributed Ledgers: A FinTech Innovation

Axoni, a leading provider of financial market infrastructure, announced today the close of a $31 million equity financing with participation from new strategic investors including Deutsche Bank, Intel Capital, and UBS. Existing investors including Citi, Goldman Sachs, HSBC, J.P. Morgan, Nyca Partners, and Wells Fargo also participated in the funding round. Axoni has raised a total of $90 million since inception.

“We’re delighted to expand the list of Axoni’s strategic partners in this financing round and deeply appreciate the continued support from our existing investors,” said Axoni CEO Greg Schvey, “applications of Axoni’s technology have expanded rapidly in recent years; this investment provides us with the capital and partnerships to meet that demand.”

Since its founding in 2013, Axoni’s client base has grown to include buy-side and sell-side firms, infrastructure providers, and technology companies across the United States, Europe, and Asia.

“We are pleased to be participating in the fundraising for this exciting company which is well placed to help drive digitalization and increase efficiency in the global capital markets,” said Henrik Johnsson, Deutsche Bank’s Co-Head of Global Capital Markets.

“Axoni’s secure and scalable multi-party data networks address significant pain points across global financial markets,” said Sunil Kurkure, Managing Director at Intel Capital. “We are excited to play an active role supporting Axoni as they continue to drive considerable efficiency, transparency, and reliability improvements in capital markets infrastructure.”

Natalie Horton, Global Head of Capital Markets Financing at UBS, stated, “Axoni are proving themselves to be a market leader in providing technology solutions in a digital world. We are excited to partner with them to drive solutions to benefit the future of our industry, such as enhancing our front-to-back client experience and delivering operational efficiencies.”

The investment will be used for the expansion of the company’s networks across asset classes and regions. Axoni software has been deployed in a wide range of markets, including:

  • North American cleared stock loan transactions in partnership with OCC
  • Global credit derivatives in partnership with The Depository Trust & Clearing Corporation (DTCC)
  • Global communications platform for primary issuance of corporate bonds in partnership with DirectBooks
  • Global equity swaps in partnership with a consortium of leading market participants

“Since our initial investment in 2016, we are continuously impressed by Axoni’s laser focus on solving complex capital markets infrastructure challenges across multiple asset classes with their distinctive technology,” said Tom Richardson, Head of Wells Fargo Principal Technology Investments, “We are excited to see Axoni’s strong client momentum and expanding set of capital market deployments that ensure further operational efficiency for the industry. We look forward to supporting their ongoing growth story.”

“Citi continues to embrace new technology solutions that enhance end-to-end client experience, mitigate risk and deliver operational efficiencies. We are excited to continue supporting and partnering with Axoni to develop post trade solutions, drive common standards and help deliver significant benefit to the industry,” said Puneet Singhvi, Citi’s Head of Financial Market Infrastructure and Blockchain Lead.

Source: Axoni

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