London-based fixed income trading fintech TransFicc has secured $25 million in a Series B round led by Citadel Securities, bringing its total funding to $50 million. Other participants in the round include BlackFin Tech and existing backers such as AlbionVC, Citi, HSBC, ING, and Illuminate Financial.
TransFicc provides low-latency connectivity and workflow solutions tailored for the fixed income and derivatives markets. Its flagship offering, the “One API for eTrading” platform, streamlines access to multiple electronic trading venues while supporting complex workflows across a broad range of fixed income products.
The fintech’s mission is to tackle industry pain points such as market fragmentation, high development costs, and increasingly complex regulatory demands. It currently serves 20 market participants and three exchanges with solutions spanning data centres, eTrading services, and consolidated tape offerings.
With the new funding, TransFicc plans to deepen its presence in the EU and US, continuing to enhance support for additional trading venues and workflows.
“Fixed income trading firms need to support and expand venues and workflows while maximising efficiency,” said Tom McKee, co-founder of TransFicc. “However, the time and development costs of connectivity can be significant. At TransFicc, our intention is to enhance our venue and workflow support so that clients can connect more quickly and at a lower cost.”