9fin founders Hussam El-Sheikh and Steven Hunter
We are beyond excited to announce our first investment with the newly closed Redalpine Capital VI fund in the UK-based fintech, 9fin. Existing investors, Fly Ventures, and high-profile angels have also participated in the £8m Series A round.
9fin has built a state-of-the-art data platform, leveraging AI to revolutionize access to data in debt capital markets, an asset class where reliable, fast data is notoriously hard to come by. Faster, better-quality data has huge value within this space, and the market opportunity is massive. Use cases include predictive analytics to spot new business opportunities or freeing up an analyst team's time through automating the manual collection of data.
The young company has shown stellar growth and already counts nine of the top 10 investment banks in Europe as their clients. Debt capital markets are the world’s largest asset class, but they operate with notoriously difficult access to data and poor data quality. Because many issuers are privately owned, price-sensitive information about them isn’t readily or easily available. 9fin’s tech platform uses machine learning and computer vision to extract and standardise debt capital markets data in real-time. The company’s predictive analytics helps its customers save time, spot trading opportunities, and increase their share of the $65bn of debt capital markets fees earned by advisors each year.
The London-founded FinTech was co-founded by Steven Hunter and Hussam El-Sheikh, long-time friends from University. The inspiration for the venture came from the founders’ extensive industry experience of working within investment banking and financial technology respectively and feeling the pain first-hand. Within the last year, the company has quadrupled its number of clients, tripled the size of its team, and partnered with the European Leveraged Finance Association on legal data and analytics. In response to strong product adoption in Europe and significant growth, 9fin is now also launching a US product and cementing its presence in the US with a New York-based office.
Redalpine is delighted to back Steven and Huss, they’re an incredibly driven team who have the ambition, network, unique industry insights, and know-how to turn 9fin into a massive business. The team has built an extremely impressive product as well as powerful customer relationships with the largest financial institutions in the world. We're excited to support them as they grow in the US market.
For more information, please visit 9fin’s website and read this YahooFinance article.