Trumid operates an electronic credit trading platform that enables more automated and efficient international credit trading. The company emphasizes market expertise, agile technology and product design as differentiators. Trumid has expanded its offering beyond a US corporate bond franchise to add Emerging Market debt. Daily trading volumes on the platform have grown rapidly and are now almost seven times higher than two years ago, with 2021 YTD average daily volume up 71% year‑over‑year. Growth capital from the financing is intended to enhance technology and expand to additional trading protocols, asset classes and geographies. The company recently appointed Bryan Harkins as Chief Revenue Officer to oversee sales and commercial leadership of protocol, product and geographic expansions. Trumid operates Market Center, an electronic trading platform for corporate and fixed income markets that leverages data and network effects to provide transparency, liquidity and efficient trade execution. In 2020 the platform saw 374% year‑over‑year volume growth, its client network expanded to 530 institutions, and the number of users executing a trade each day grew 129%. The company completed 26 technology release cycles during the year and launched Emerging Market debt onto its Market Center in Q4 2020. Trumid announced a strategic relationship with Goldman Sachs to provide connectivity and liquidity via its Attributed Trading protocol and hired Vlad Khandros as Head of Corporate Development to pursue expansion and strategic opportunities. The company completed a $50 million financing whose proceeds will be used to repurchase shares from existing shareholders and which values the company at a premium to its most recent financing. Trumid Financial LLC is a bond trading platform. The company raised $200 million in its latest fundraising round. Funds and accounts managed by T. Rowe Price Associates Inc. and BlackRock Inc. were among the investors in the round. The financing pushed Trumid’s valuation to over $1 billion. The article notes this valuation more than doubled since last May. Trumid operates an electronic trading platform that gives corporate bond market professionals direct access to liquidity and market intelligence. The firm leverages data, technology and innovative products to bring efficiency to credit trading. Founded in 2014 by Mike Sobel, Trumid serves a client network of over 425 buy-side and sell-side institutions. The company plans to use recent funding to expand its US corporate bond business and to broaden protocol and product offerings. Trumid received roughly $60m in a strategic minority investment announced in May 2019. Trumid operates the Trumid Market Center, an electronic trading platform that provides corporate bond market professionals with direct access to liquidity and market intelligence. Founded in 2014 by Mike Sobel and based in New York City, the company brings efficiency to credit trading through data, technology and innovative products. It has a large and diverse user network of about 400 buy-side and sell-side institutions. Trumid intends to use the funds to further scale its US corporate bond business and to support expansion of protocols, products and geographies. The partnership with Singapore Exchange is expected to help the company gain access to the Asian market by leveraging SGX’s regional expertise and presence.

Total raised

$608M

Funding rounds

7

Latest round

Equity

Latest activity

Oct 2021