Financial Market Infrastructure Firm Axoni Announces $20M Equity Financing Led by EJF Ventures

Axoni, a provider of data synchronization technology and financial market infrastructure, announced “the close of a $20 million equity financing round led by EJF Ventures, with participation from Laurion Capital Management, Communitas Capital, and existing investors. Axoni has raised more than $110 million since inception.”

Axoni’s AxCore software “synchronizes data across enterprises, solving decades-old coordination problems between large companies.”

By guaranteeing data is continually and automatically replicated in real time, with guaranteed accuracy and completeness, Axoni technology “reduces cost, risk, and errors when moving trade data and other critical information between financial institutions.”

With AxCore now deployed “across various asset classes and markets, it is also standardizing the internalization of data, further reducing costs for institutions who can leverage existing familiarity with Axoni software.”

Since its founding in 2017, Axoni’s client base “has grown to include many of the world’s leading market infrastructure companies, asset managers, hedge funds, and global banks in the United States, Europe, and Asia.”

Axoni’s mission critical technology “processes trillions of dollars of transactions annually across international markets.”

Axoni CEO Greg Schvey said:

“We’re delighted to add these financial technology experts to our list of partners and deeply appreciate the continued support from our existing investors. This investment will facilitate further advancement of our technology as well as our continued global expansion.”

Jonathan Bresler, Managing Partner of EJF Ventures, said:

“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. We believe AxCore has applicability across many lines of financial services and we are excited to support the exemplary team at Axoni.”

Emmanuel Naim from Laurion Capital Management, said:

“We believe Axoni is ideally positioned to serve the industry’s secular trend in post-trade operational efficiency. Laurion is thrilled to participate in the company’s new round of financing.”

Axoni software has “been deployed or is in development in a wide range of markets,” including:

  • Cleared stock loan transactions at OCC (Options Clearing Corporation)
  • Global credit derivatives in partnership with The Depository Trust & Clearing Corporation (DTCC)
  • Global communications platform for primary issuance of corporate bonds in partnership with DirectBooks
  • Global equity swaps in partnership with a consortium of leading market participants
  • Global derivatives platform slated to launch in 2023

As noted in the update, Axoni is “a New York-based technology firm that specializes in the coordination of data across financial institutions.”

Founded in 2017 by a team of distributed systems and financial markets veterans, the company reportedly “offers core data infrastructure, application development, and automation tools.”

Axoni’s technology is “used across global capital markets by banks, asset managers, hedge funds, and infrastructure providers.”

Existing investors “include Andreessen Horowitz, Citi, CME Ventures, Coatue, DCG, Deutsche Bank, DCVC, FinTech Collective, F-Prime, Franklin Templeton, Goldman Sachs, HSBC, Intel Capital, J.P. Morgan, LSEG, Nyca Partners, UBS, Wells Fargo, and Y Combinator.”

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