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On Tue, 3 Dec, 8:02 AM UTC
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9fin Raises $50 Million for AI-Powered Analytics Platform for Debt Capital Markets | PYMNTS.com
London-based 9fin has raised $50 million in a Series B funding round to build the next generation of its artificial intelligence (AI)-powered analytics platform for global debt capital markets. The firm will use the new funding to invest further in its AI technology, grow its analytics team and accelerate its expansion in the United States, 9fin said in a Monday (Dec. 2) press release. "We started 9fin to give professionals in the market a data edge, with smarter, faster intelligence," Steven Hunter, co-founder and CEO of 9fin, said in the release. Huss El-Sheikh, co-founder and chief technology officer of 9fin, said in the release: "By investing in the best product and engineering talent, we've dramatically increased product velocity, delivering capabilities to give our customers the best workflows, tools and insights, and helping them navigate easily through complex financial markets." 9fin provides its subscribers with intelligence on high-yield bonds, leveraged loans, distressed debt, collateralized loan obligations (CLOs), private credit and asset-backed finance, according to the release. By integrating generative AI into its platform, the company also provides agentic Q&A tools, real-time market updates and advanced search capabilities, the release said. Since its Series A+ round in 2022, 9fin has seen its annual recurring revenue (ARR) grow 400% group-wide and its customer base double to include nearly 200 firms in global credit markets, per the release. The company's latest funding round came at a time when data and technology offerings have not kept pace with the boom in debt markets, Fergal Mullen, co-founder and partner at Highland Europe, which led the round, said in the release. "9fin's vision, its relentless focus on technology, innovation and company culture, positions it as the go-to platform for those working in debt markets," Mullen said. In the broader financial sector, 72% of finance leaders report that they actively use AI in their operations, according to the PYMNTS Intelligence and NCR Voyix collaboration, "Is AI the Master Key to Banking's Next Era?" The report found that common applications of AI in the financial sector include fraud detection and customer onboarding automation, which are used by 64% and 42%, respectively, of the finance leaders.
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9fin raises $50m to build debt capital markets technology
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. The new funding will enable 9fin to invest further in its market-leading AI technology, grow its analytics team, and accelerate its expansion in the US. 9fin has established itself as a pioneer in the application of cutting-edge technology in debt capital markets. Since its Series A+ round in 2022, it has achieved 400% group-wide ARR growth, with its US business growing at an even faster rate. The company has also grown to 240 employees and recently doubled the size of its tech team, driving increases in product development speed. Over this period, the company has more than doubled its customer base to nearly 200 of the largest firms in global credit markets, including leading investment banks, distressed debt advisors, private equity, credit fund managers and law firms. 9fin is used by asset managers with a combined AUM of over $17 trillion, with many more debt market professionals discovering its intuitive platform each week. 9fin helps subscribers save time, win business, and outperform their peers with faster and easier access to critical credit information. Providing intelligence on high-yield bonds, leveraged loans, distressed debt, CLOs, private credit and asset-backed finance, 9fin was the first information provider to integrate generative AI into its platform, using it to provide agentic Q&A tools, real-time market updates, and advanced search capabilities. Steven Hunter, Co-founder and CEO of 9fin said: "Debt markets are the biggest overlooked asset class in the world and yet they still rely on technology and information sources straight out of the 1980s - opaque, slow and messy. We started 9fin to give professionals in the market a data edge, with smarter, faster intelligence. I'm really proud of the product, team and company culture we've built so far at 9fin, and we're just getting started. There's a huge opportunity to build the #1 global provider of debt market analytics, and bring debt markets into the AI age. We're delighted to welcome Highland as a partner to help us achieve that vision." Huss El-Sheikh, Co-founder and CTO of 9fin: "From the moment we started building at our kitchen table, 9fin has pioneered the use of AI in debt capital markets, setting a new industry standard. By investing in the best product and engineering talent, we've dramatically increased product velocity, delivering capabilities to give our customers the best workflows, tools and insights, and helping them navigate easily through complex financial markets." Fergal Mullen, Co-founder and partner, Highland Europe said: "Debt markets are booming but data and technology offerings simply haven't kept pace. 9fin's vision, its relentless focus on technology, innovation and company culture, positions it as the go-to platform for those working in debt markets. We're thrilled to support their ambition to become the global market leader."
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London-based 9fin raises $50 million in Series B funding to enhance its AI-powered analytics platform for global debt capital markets, aiming to revolutionize the industry with advanced technology and expand its presence in the US market.
London-based fintech company 9fin has successfully raised $50 million in a Series B funding round, led by Highland Europe. This significant investment aims to propel the development of 9fin's artificial intelligence (AI)-powered analytics platform for global debt capital markets [1][2].
9fin has positioned itself as a pioneer in applying cutting-edge technology to debt capital markets. The company's platform provides subscribers with critical intelligence on various financial instruments, including high-yield bonds, leveraged loans, distressed debt, collateralized loan obligations (CLOs), private credit, and asset-backed finance [1].
Steven Hunter, co-founder and CEO of 9fin, emphasized the company's mission: "We started 9fin to give professionals in the market a data edge, with smarter, faster intelligence" [1]. This approach addresses the longstanding issue of outdated technology in debt markets, which Hunter describes as "opaque, slow and messy" [2].
Since its Series A+ round in 2022, 9fin has demonstrated remarkable growth:
The company's client portfolio now includes asset managers with a combined Assets Under Management (AUM) of over $17 trillion [2].
9fin has been at the forefront of integrating generative AI into its platform, offering innovative features such as:
Huss El-Sheikh, co-founder and CTO of 9fin, stated, "By investing in the best product and engineering talent, we've dramatically increased product velocity, delivering capabilities to give our customers the best workflows, tools and insights" [1].
The newly acquired funds will be strategically utilized to:
The investment in 9fin comes at a crucial time for the financial sector. According to a PYMNTS Intelligence and NCR Voyix collaboration, 72% of finance leaders report actively using AI in their operations. Common applications include fraud detection (64%) and customer onboarding automation (42%) [1].
Fergal Mullen, co-founder and partner at Highland Europe, highlighted the significance of 9fin's offering: "Debt markets are booming but data and technology offerings simply haven't kept pace. 9fin's vision, its relentless focus on technology, innovation and company culture, positions it as the go-to platform for those working in debt markets" [2].
As 9fin continues to innovate and expand, it aims to become the global market leader in debt market analytics, bringing the debt markets firmly into the AI age.
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Aveni, a Scottish AI fintech startup, has raised £11 million ($14 million) in a Series A funding round. The investment was led by Lloyds Banking Group and Nationwide Building Society, aiming to revolutionize financial services with AI technology.
4 Sources
Cardo AI, a fintech startup, has raised $15 million in a Series A funding round to expand its AI-powered platform for asset-based finance and private credit markets. The investment was co-led by Blackstone Innovations Investments, FINTOP Capital, and JAM FINTOP.
2 Sources
Desia, a startup founded by Scalapay co-founder Raffaele Terrone, has raised $3.3 million to develop AI applications for investment professionals, aiming to automate data analysis and improve productivity in the financial sector.
2 Sources
Brightwave, an AI-driven financial research platform, raises $15 million in Series A funding to accelerate development of its knowledge graph and AI reasoning system for investment professionals.
2 Sources
