9fin founders, Huss and Steven
We are pleased to announce that our portfolio company, 9fin (RAC VI), has successfully closed a $23m financing round, led by leading US based investor, Spark Capital and with participation from existing investors Redalpine, AI Seed, Seedcamp, 500 Startups. To date, 9fin has raised nearly $37 million in total funding including early investments from Fly Ventures, and a number of prominent angel investors.
9fin’s founders set themselves the ambitious task of disrupting the largest asset class in the world. At $65bn per annum debt capital markets generate twice as much fee revenue for Investment Banks as M&A or equities. Despite that, data sources are often not automated, inaccurate and slow. 9fin’s mission is to organize the world’s leveraged finance information and make it accessible and useful through its data, news and predictive analytics platform. Leveraging proprietary machine learning and computer vision, 9fin is the faster, smarter way to find leveraged finance intelligence, centralizing everything that's needed to analyze a credit or win a mandate in one place.
Since our investment in 2021, the company has more than doubled its client base, tripled its team and started building their US office. The fresh injection of cash will now help 9fin speed up the go-to-market in the US and the building out of their team on the ground.
Aleksandra Laska, Partner at Redalpine, adds: “We’ve seen 9fin go from strength to strength since we have invested last year. The team has delivered impressive revenue growth, significant product developments and added some outstanding talent to their team. They’re well placed to execute on the next stage of their vision, and we’re proud that we were able to support them thus far and will continue to do so in the future.”
The new capital will be used to scale the 9fin team, grow its presence in the US market and expand its product into new asset classes. Steven Hunter, CEO and co-founder of 9fin, emphasizes: “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."
For more information, please visit 9fin’s website: https://9fin.com/