DB1 Ventures, the institutional venture capital arm of Deutsche Börse, has led the latest Series B funding round for WeMatch, a leading financial technology company digitizing the wholesale derivatives industry.
According to an official announcement shared by Deutsche Börse, DB1 Ventures has acquired a minority stake in WeMatch as part of a recent $19.5 million Series B investment round. The said transaction closed on September 30, 2021.
Aside from DB1 Ventures, several other investors, including Augmentum Fintech PLC and Illuminate Financial, have also joined the funding round. In addition, the company’s current shareholder, JP Morgan, has co-financed Series B.
Founded in 2016, WeMatch provides market participants with a comprehensive solution across a range of assets, lowering costs for customers, increasing efficiency and reducing behavior risk for traders. The company currently has 26 employees across its offices in London, Paris and Tel Aviv.
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Commenting on the latest announcement, Matthias Graulich, Member of the Eurex Clearing Executive Board at Deutsche Börse, said: “The digitization of workflows combined with seamless access to large liquidity pools in market infrastructure providers has been driving the collaboration between WeMatch and Deutsche Börse; and from Then, this investment makes perfect sense and further strengthens our partnership. It is a win-win from our perspective: Deutsche Börse will benefit from WeMatch’s flexibility and innovation strength, and WeMatch will benefit from our deep liquidity pools and strong global distribution strength that facilitate further growth for both companies.”
According to WeMatch, the company has involved 40 banks and 17 fund managers so far. With the recent investment, the fintech company is planning to expand its operations.
“Combining significant synergies with a leading European exchange such as Deutsche Börse, the continued support of our banking partners JP Morgan and Société Générale, and the contribution of influential Fintech VCs such as Illuminate Financial and Augmentum, will help us implement our digitization project,” said Joseph Seroussi, WeMatch Co-CEO. : “