Axoni, a New York-based data synchronization technology provider across financial institutions, closed a $20 million equity financing round. The funding round was led by EJF Ventures, with participation from Laurion Capital Management, Communitas Capital, and existing investors.
Since its founding, the Fintech company has raised over $110 million. The AxCore software from Axoni synchronizes data amongst corporations, resolving long-standing issues with coordination between big businesses.
“We’re delighted to add these financial technology experts to our list of partners and deeply appreciate the continued support from our existing investors. The investment will facilitate further advancement of our technology and our continued global expansion,” said Axoni CEO Greg Schvey.
When moving trade data and other important information between financial institutions, Axoni technology lowers cost, risk, and errors by ensuring that data is continuously and automatically replicated in real-time, with guaranteed accuracy and completeness.
As more asset classes and markets adopt AxCore, it also standardizes the internalization of data, which lowers costs for institutions that can take advantage of their prior experience with Axoni software.
Axoni software has been deployed in a wide range of markets
Established in 2017 by a group of experts in distributed systems and financial markets, the company provides solutions for core data infrastructure, application development, and automation.
Since its inception, Axoni’s clientele has expanded to include many top asset managers, hedge funds, global banks, and market infrastructure firms from the US, Europe, and Asia. The mission-critical technology used by Axoni handles transactions worth trillions of dollars every year on global markets.
“Modernizing legacy financial infrastructure is essential as market participants grapple with the challenges of an increasingly real-time world. Axoni solves key data-related problems with a modular architecture resulting in improved operational efficiency and greater client satisfaction,” said Jonathan Bresler, Managing Partner of EJF Ventures.
AxCore has applicability across many lines of financial services.
“We believe Axoni is ideally positioned to serve the industry’s secular trend in post-trade operational efficiency,” said Emmanuel Naim from Laurion Capital Management.