Fintech Platform Trumid Raises $208 Million in Funding

Electronic credit trading platform Trumid has announced the completion of a new $208 million funding, which was led by Point Break Capital Management with participation from Motive Partners, Senator Investment Group, Phase2 Partners and existing investors including Dragoneer Investment Group, TPG, DST Global, Singapore Exchange (SGX), and funds and accounts managed by BlackRock and T. Rowe Price Associates, Inc.

Growth capital from this financing will enable Trumid to further enhance its leading-edge technology and to expand its footprint to include additional trading protocols, asset classes and geographies.

"Strong partnership with our community of clients and investors is how Trumid drives sustainable innovation and value," said Mike Sobel, President of Trumid. "We're thrilled to bring in investors whose expertise matches our strategic priorities. Credit market structure is evolving quickly and we're excited to run hard at the big growth opportunities in front of us."

Ashwin Kumar, Industry Partner at Motive Partners, commented "Trumid's strong performance demonstrates its ability to deliver efficient trade execution and support global credit trading through outstanding technology. We see great potential for the creation of long-term value in the business and expect this round of funding to enable the company to achieve its expansion plans. We're delighted to make our extensive resources in technology and innovation available to help the Trumid team drive those plans forward."

Trumid recently announced electronic trading executive Bryan Harkins will join the company in a newly created role of Chief Revenue Officer. Harkins will oversee the firm's sales organization, with a focus on continued growth of its existing business and commercial leadership of Trumid's protocol, product and geographic expansions.