9fin, a London-based financial data startup, has raised £40 million ($50 million) in a Series B funding round led by Highland Europe, bringing its total funding to $90 million. The investment will drive the development of its AI-powered credit markets technology, bolster its analytics team, and accelerate its rapid expansion in the US market.
Transforming Debt Market Insights
Founded in 2016 by Steven Hunter and Huss El-Sheikh, 9fin aims to revolutionize debt markets, often overlooked despite being one of the largest asset classes globally. Its platform provides insights into high-yield debt, distressed assets, private credit, and asset-backed lending, addressing inefficiencies in traditional debt data systems.
Hunter, a former JP Morgan banker, highlighted the sector’s outdated technology:
“Debt markets remain opaque and slow, relying on systems from the 1980s. We aim to bring them into the AI age and become the global leader in debt market analytics.”
Competitive Edge
9fin competes with major players like Reorg, Fitch, and Debtwire, offering tailored tools to investment banks and asset managers. Its services are priced at over $100,000 annually per user, underscoring its value in the market. Since 2022, the startup has doubled its customer base to nearly 200, representing firms managing $17 trillion in assets.
Growth Plans
The new funding will enable 9fin to:
- Expand its US operations, its fastest-growing market.
- Enhance AI-driven tools for credit analysis.
- Hire across its analytics, technology, and journalism teams.
Highland Europe co-founder Fergal Mullen joins 9fin’s board, reflecting investor confidence in the startup’s potential.
Future Outlook
Currently employing 250 staff across London and Belfast, 9fin expects to achieve cash flow positivity by 2025. Its blend of financial analysts, lawyers, and journalists ensures comprehensive market coverage, helping the company target its mission of modernizing debt market analytics.
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