● DB1 Ventures, the corporate venture capital arm of Deutsche Börse, led the Series B funding round in October which has just been completed with a second tranche
● The total for the Series B now stands at $28M
● New investors include Barclays and CE Innovation Capital
● Existing investor Societe Generale also confirm its support through participation in this second close
Wematch announces a second close to its Series B and welcomes Barclays and CE Innovation Capital to the round. The deal closed on 3 December 2021. Investors in the first close of the funding round included DB1 Ventures, J.P. Morgan, Augmentum Fintech PLC and Illuminate Financial.
Wematch develops web-based solutions to replace voice broking by automating matching, negotiation and lifecycle management for instruments such as securities borrowing and lending, total return swaps, interest rate derivatives, as well as equity derivatives. It 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 investors support the vision of Wematch to help the capital market industry in further adopting digital solutions across multiple markets globally, and to apply this technology to internal and client-facing solutions.
Spyros Varoutsis, Head of Delta1 Trading EMEA at Barclays said: “Barclays is delighted to partner with WeMatch. By combining our strengths, we can drive innovation and automation in trading technology, bringing efficiencies for market participants and best-in-class trading solutions for our clients.”
Albert Loo, Deputy Head of Sales for Global Markets at Societe Generale said: “Since the early days of our relationship, Wematch team continuously demonstrated its ability to deliver cutting-edge platforms and technology. Societe Generale naturally renews its trust through participating to the Series B and is delighted to welcome new investors to accelerate Wematch technology adoption across markets and participants.”
Zheng Cui, partner of CE Innovation Capital said: “We believe WeMatch’s mission-critical technology solution, covering from trade discovery to workflow and compliance, is the key to drive the digitalization of the derivatives market. As a global Fintech investor, we are excited to be part of WeMatch’s story, and look forward to work with the team on its global expansion strategy”
Joseph Seroussi, CEO of Wematch said: “We are very excited in welcoming Barclays and CE Innovation Capital as new investors and very thankful for the continued support from Societe Generale.
This Series B combines the support from our Banking Partners, a leading Market Structure, and expert VC funds and will allow us to deliver our promise to accelerate the digitalization of our industry across all regions.