Tradefeedr announced it has raised $3 million in early-stage financing, to modernise trading analytics workflows.
During the past year, Tradefeedr signed up 14 liquidity providers and a number of clients to use the platform, including Goldman Sachs, UBS, XTX Markets and Insight Asset Management. Tradefeedr enables clients to query and analyse their FX trading data from participating liquidity providers and ECNs through a standardised API, allowing them to advance their trade execution quality.
Most of the funds come from IPGL, fintech investor with a focus on new applications for the wholesale market. The private investment company IPGL is owned by Lord Michael Spencer, the founder of global markets company, ICAP plc and subsequently financial technology business, NEX plc.
Tradefeedr is a really promising financial technology business, with the right combination of technical knowhow and market wisdom and I am very pleased to be able to back it at this stage in its development. I believe they have an excellent product and I wish Seth, Balraj and Alexei every success.
Tradefeedr was founded in 2018 by Balraj Bassi and Alexei Jiltsov. They had previously worked together at Lehman Brothers and launched Blacktree, a macro systematic hedge fund.
Bassi and Jiltsov said:
We are excited by the support we have received from IPGL and that someone of Seth’s calibre has agreed to become our Chairman. We believe that our platform will deliver significant benefits to market participants, through improving collaboration and giving better access to trading information, which will lead to enhanced decision making. There is a huge demand for greater transparency in financial markets and Tradefeedr can help meet that demand.
Seth Johnson, former CEO of NEX Markets, also supports the fund raising and has been appointed as Tradefeedr’s Chairman to strengthen the business in its development.
Seth Johnson noted:
Seth Johnson Source: LinkedIn
I am delighted to become chairman of Tradefeedr and have the opportunity to back the business. Tradefeedr is precisely the type of company we used to look to invest in when I was at NEX – one with great technology, a great product and great growth potential, as well as talented and expert founders. I am looking forward to working with Balraj and Alexei to help them deliver on the company’s potential.
Independent writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.