(Bloomberg) -- Bond-trading platform Trumid Financial saw its valuation increase by 40% in just four months after a new fundraising round led by Yuri Milner’s DST Global.
That takes the company’s implied worth to around $1.4 billion, according to people with knowledge of the matter, who asked not to be identified discussing the private transaction. Growth equity firm Dragoneer Investment Group, which led Trumid’s last capital raise in August, also participated in the $50 million round in December, according to a statement Wednesday.
The six-year-old company led by President Mike Sobel has been expanding as the corporate bond market continues to embrace electronic trading and advances in financial technology. The trend has also benefited rivals MarketAxess Holdings Inc. and Tradeweb Markets Inc. Trumid launched emerging market debt trading in October, adding to a suite of investment-grade and high-yield securities.
The platform has made a name for itself with its attributed trading protocol, in which each counterparty of a transaction is disclosed. It announced a strategic relationship with Goldman Sachs Group Inc. related to the workflow last week, joining Citigroup Inc. and Barclays Plc on its trading advisory committee.
Trumid recently hired Vlad Khandros as its head of corporate development, according to the statement. Khandros previously served as global head of market structure and liquidity strategy at UBS Group AG.
Bloomberg LP, the parent of Bloomberg News, competes to offer fixed-income trading services, data and information to the financial industry.
Últimas Noticias
Debanhi Escobar: they secured the motel where she was found lifeless in a cistern
Members of the Specialized Prosecutor's Office in Nuevo León secured the Nueva Castilla Motel as part of the investigations into the case
The oldest person in the world died at the age of 119
Kane Tanaka lived in Japan. She was born six months earlier than George Orwell, the same year that the Wright brothers first flew, and Marie Curie became the first woman to win a Nobel Prize
Macabre find in CDMX: they left a body bagged and tied in a taxi
The body was left in the back seats of the car. It was covered with black bags and tied with industrial tape
The eagles of America will face Manchester City in a duel of legends. Here are the details
The top Mexican football champion will play a match with Pep Guardiola's squad in the Lone Star Cup
Why is it good to bring dogs out to know the world when they are puppies
A so-called protection against the spread of diseases threatens the integral development of dogs
