Deutsche Borse takes minority stake in WeMatch in Series B Funding

Karthik Subramanian

Deutsche Borse has taken a minority stake in the fintech company focussed on front-office solutions for the derivatives industry, WeMatch during the Series B funding round.

The company raised $19.5 million during this funding round which included other investors like Augmentum Fintech, JP Morgan, and others as well. The company develops solutions that replace voice broking with automatic matching, negotiation, and lifecycle management for a variety of instruments including interest and equity derivatives and lending products. The company was founded in 2016 and currently has a presence in 3 locations namely London, Paris, and Tel Aviv. It is expected that the company would be using the additional funds for improving and expanding on their platform and instrument range during the coming months.

“We are thrilled to have completed this Series B and to welcome DB1 Ventures, Illuminate Financial, and Augmentum Fintech PLC as new investors, in addition to receiving the continued support from our existing shareholders,” says Joseph Seroussi, co-CEO of WeMatch.

The solutions developed by the company are reported to be useful in cutting costs and reducing the incident of risk for the traders and institutions like banks. For Deutsche Borse, the investment would make sense as it would get unfettered access to the solutions of the company in return for the investment that it has made.

“The digitalization of workflows combined with seamless access to large liquidity pools at market infrastructure providers has been driving the collaboration between WeMatch and Deutsche Börse; hence, this investment makes perfect sense and further strengthens our partnership,” said Matthias Graulich, member of the Eurex Clearing Executive Board at Deutsche Börse.

“It is a win-win from our perspective – Deutsche Börse will benefit from WeMatch’s agility and innovation power, and WeMatch will benefit from our deep liquidity pools and strong global distribution power facilitating further growth for both firms.”

The exchange would be hoping that usage of the solutions of WeMatch would help to bring in more speed and reliability which would help to bring in better and faster execution for the exchange. No details of when the integration of the platforms would happen have been mentioned in the release but the details are likely to follow as clients of both companies can look forward to better and deeper execution.

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