Markit Group builds and sells high-quality data and a platform for the credit derivatives market, positioning itself as part of the plumbing of financial markets. The company monetizes its product directly through customer contracts with banks rather than traditional VC funding. Founders Lance Uggla, Kevin Gould and Rony Grushka grew the business over six to seven years into a purpose-built data provider that banks pay for in cash. The article highlights Markit’s execution and role in day-to-day market operations, noting its comparatively unsexy but essential product. Markit is headquartered in London and has been described as one of the most successful UK startups given its scale and client base. The recent investment values the company at $3.3 billion and underscores its strong market position while prompting commentary that more European financial-market startups could follow.

Total raised

$250M

Funding rounds

1

Latest round

Equity

Latest activity

Jan 2010