InterPrice Technologies, Inc., a treasury capital markets funding platform, announced the closing of its Series A funding.
The $7.3 million investment was ‘co-led by Nasdaq Ventures and DRW Venture Capital, with participation from existing investors including Bowery Capital.”
InterPrice’s solutions “streamline bond, commercial paper, and loan pricing indications into intuitive dashboards across currencies and financing products.” By normalizing data across all banking partners, the company’s technology “eliminates dependencies on time-consuming manual processes and enables corporate issuers to make informed financing decisions while expanding the reach of participating financing partners.”
Olga Chin, Founder and CEO of InterPrice Technologies, said:
“We have been incredibly fortunate to work with some of the most active corporate treasury teams and underwriters over the past two years. Our clients have provided extensive and enthusiastic support for our solutions, and we wouldn’t be where we are today without their confidence in our team. We are now ready to scale our company and I can’t think of better partners than Nasdaq Ventures and DRW for this next step in our journey.”
Since InterPrice’s commercial launch in 2020, the company has “on-boarded multiple Fortune 500 and global corporate issuers, such as HP Inc., McCormick & Company, and Takeda Pharmaceuticals, and over a dozen underwriters onto its platform.”
With this additional funding, the company will “accelerate product development, extend asset coverage, and expand its presence in the United States and internationally.”
Gary Offner, Senior Vice President and Head of Nasdaq Ventures, remarked:
“InterPrice fundamentally changes the way corporate issuers interact with their data. Rich and reliable indicative new issue pricing data, delivered through an elegant platform in real-time, can unlock actionable insights that would otherwise remain trapped among opaque, disparate sources. Nasdaq is incredibly excited to lead the company’s Series A funding and to partner with Olga and the InterPrice team.”
Kim Trautmann, Head of DRW Venture Capital, commented:
“InterPrice has already proven itself to be a powerful partner to some of today’s largest debt issuers. As a participant in capital markets ourselves, we quickly recognized the value created by InterPrice’s workflow automation and analytic tools, which streamline decision-making, increase efficiency and enable transparency. I am thrilled to be joining its board and excited to work alongside Olga and her talented team to accelerate growth as the platform expands to include new asset classes.”
As noted in the update, InterPrice Technologies, Inc. claims it is “the first-to-market, secure and user-friendly platform that provides its users – corporate issuers and financial institutions – with transparency into financing costs.”
The InterPrice platform “automates the archaic process of new issue pricing indications that treasury teams currently receive from multiple financing partners.”