Trumid, an electronic credit trading platform, announced yesterday that the company has raised $208 million in a recent funding round led by Point Break Capital Management, one of the leading private investment firms.
The press release shared by Trumid highlights the growing global electronic credit trading market. Through the latest financing, Trumid is planning to enhance its leading-edge technology and expand its footprint to include additional trading protocols, asset classes and geographies.
In addition to Point Break Capital Management, Motive Partners participated in the recent financing round. Senator Investment Group, Phase2 Partners, and the company’s existing investors including Dragoneer Investment Group, TPG, DST Global and Singapore Exchange (SGX) joined the $208 million investment round.
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According to Trumid, the company saw rapid growth in 2021 including a significant jump in daily trading volumes on its platform. The YTD average daily volume in 2021 jumped 71% YoY. Trumid has recently added Emerging Market debt to its platform.
A “strong partnership with our community of clients and investors is how Trumid drives sustainable innovation and value. We’re thrilled to bring in investors whose expertise matches our strategic priorities. Credit market structure is evolving quickly, and we’re excited to run hard at the big growth opportunities in front of us,” Mike Sobel, President of Trumid, said in the announcement.
Electronic Credit Trading
Electronic credit trading platforms are gaining popularity among investors around the world. Trumid aims to optimize the credit trading experience through innovative technology. “Trumid’s strong performance demonstrates its ability to deliver efficient trade execution and support global credit trading through outstanding technology. We see great potential for the creation of long-term value in the business and expect this round of funding to enable the company to achieve its expansion plans. We’re delighted to make our extensive resources in technology and innovation available to help the Trumid team drive those plans forward,” Ashwin Kumar, Industry Partner at Motive Partners, commented on the recent investment round.