DB1 Ventures, the corporate venture capital arm of Deutsche Börse, led the latest Series B funding round of WeMatch, one of the leading financial technology firms digitizing the wholesale derivatives industry.

According to an official announcement shared by Deutsche Börse, DB1 Ventures has acquired a minority stake in WeMatch as part of the recent $19.5 million Series B investment round. The mentioned deal closed on 30 September 2021.

Apart from DB1 Ventures, several other investors, including Augmentum Fintech PLC and Illuminate Financial also joined the funding round. In addition, the company’s existing shareholder JP Morgan participated in the Series B financing.

Founded in 2016, WeMatch provides market participants with a one-stop solution across a range of assets, cutting costs for clients, increasing efficiency and reducing conduct risk for traders. The company currently has 26 employees across offices in London, Paris and Tel Aviv.

Commenting on the latest announcement, Matthias Graulich, Member of the Eurex Clearing Executive Board at Deutsche Börse, said: “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. 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.”

WeMatch’s Expansion

According to WeMatch, the company has onboarded 40 banks and 17 fund managers so far. Through the recent investment, the fintech firm is planning to expand its operations.

“The combination of the significant synergies with a leading European exchange like Deutsche Börse, the continued support of our banking partners J.P. Morgan and Société Générale, and the contribution of impactful Fintech VCs like Illuminate Financial and Augmentum, will help us deliver our project to digitize capital market workflows on a global scale for both sell-side and buy-side Institutions,” Joseph Seroussi, Co-CEO of WeMatch, said.