AccessFintech secures USD20m in Series B financing
AccessFintech, a fintech company evolving the financial industry operating model through data and workflow collaboration, has completed a USD20 million Series B funding round led by Dawn Capital, Europe’s largest venture capital fund dedicated to B2B software.
Existing investors JP Morgan, Citi and Goldman Sachs contributed to the round, and Deutsche Bank has participated for the first time. It brings the total capital raised to date to USD37 million since 2018.
AccessFintech will use the proceeds of the investment to fuel the next stage of its development, to accelerate product innovation, and to continue its go-to market expansion and extend its partner ecosystem.
The company has created a network of participants sharing financial data and standardising workflows. Market participants use the network to collaborate on exception resolution, distribute data and onboard vendors to create a complete ecosystem for data and workflow management.
Since launch, AccessFintech has already gone live with 10 financial products and is in proof-of-concept or live testing with another 11 products. The collaboration ecosystem has the participation of many of the leading global banks and broker-dealers, custodians, asset managers and has created workflow partnerships with industry vendors and peers.
AccessFintech CEO Roy Saadon says: “Over the past two years our mission to evolve the financial industry operating model has gained significant traction and it is testament to the energy and skill of our team, the support of our clients and our wider network that we have reached this important milestone. We are thrilled to partner with a firm of the calibre of Dawn Capital who have an exceptional track record in working with fast growing companies in the fintech sector and who fully support our strategy. We are also excited to have worked with JP Morgan, Citi, Goldman Sachs and Deutsche Bank in this round – they are important partners for us in our vision of collaboration to maximise efficiencies across the market.”