Axoni raises $20m in equity funding round led by EJF Ventures
New York-based financial markets infrastructure provider Axoni has secured $20 million in an equity funding round led by EJF Ventures.
Axoni raises $20m
The round also saw participation from Laurion Capital Management, Communitas Capital, as well as existing backers. With this fresh funding, Axoni has raised more than $110 million since inception.
Founded in 2017, Axoni specialises in the coordination of data across financial institutions, offering core data infrastructure, application development and automation tools. Its AxCore solution synchronises data across enterprises, making sure data is “continually and automatically replicated” in real time. This ensures a reduction in cost, risk and errors when data is moved between financial institutions.
“Modernising legacy financial infrastructure is essential as market participants grapple with the challenges of an increasingly real-time world,” says Jonathan Bresler, managing partner at EJF Ventures.
“Axoni solves key data-related problems with a modular architecture resulting in improved operational efficiency and greater client satisfaction.”
Axoni CEO Greg Schvey says the funding will be used to “facilitate further advancement of our technology as well as our continued global expansion”.
The US fintech firm’s existing backers include Andreessen Horowitz, Citi, CME Ventures, Coatue, DCG, Deutsche Bank, DCVC, FinTech Collective, F-Prime, Franklin Templeton, Goldman Sachs, HSBC, Intel Capital, JP Morgan, LSEG, Nyca Partners, UBS, Wells Fargo and Y Combinator.
