Securities exchange Deutsche Börse invested $10m in US-based digital bond trading network operator Trumid on Monday through its corporate venture capital arm, DB1 Ventures.
Trumid operates an ‘all-to-all’ corporate bond and credit default swap trading platform, designed to improve liquidity in the fixed income markets. The platform enables buyers and sellers to trade directly and anonymously with each other and agree prices collectively.
The company claims the platform has 350 institutional clients globally. By partnering Deutsche Börse, it plans to develop products aimed at the European market to grow its footprint on the continent.
The deal represents a follow-on to the $28m in series C funding Trumid raised in March this year from investors including wealth management platform Creditease. Trumid’s earlier backers include Sumway Capital, 1/0 Capital and private investors Peter Thiel and George Soros.
Ankur Kamalia, managing director of DB1 Ventures, said: “With our latest investment we broaden our portfolio with a pioneer in bond trading with specific buyside focus. We are pleased to partner a top-quality team and platform with client traction and a strong vision.”