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DB1 Ventures, the corporate venture capital arm of Deutsche Boerse, is leading a US$19.5 million Series B funding round in WeMatch.
The company recently acquired a minority stake in WeMatch which was completed on 30 September.
WeMatch is aiming 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.
Other investors of the Series B funding round include Augmentum Fintech, Illuminate Financial and existing shareholder J.P. Morgan.
“The digitalisation of workflows combined with access to large liquidity pools at market infrastructure providers has been driving the collaboration between WeMatch and Deutsche Boerse,” says Matthias Graulich, member of the Eurex Clearing executive board at Deutsche Boerse.
He continues: “Deutsche Boerse will benefit from WeMatch’s agility and innovation power, and WeMatch will benefit from our deep liquidity pools and strong global distribution power facilitating further growth for both firms.”
Also speaking on the announcement, Joseph Seroussi, WeMatch’s co-CEO, says: “The combination of the synergies with a European exchange like Deutsche Boerse, the continued support of our banking partners J.P. Morgan and Societe Generale, and the contribution of Fintech VCs like Illuminate Financial and Augmentum, will help us deliver our project to digitise capital market workflows on a global scale for both sell-side and buy-side institutions.”
