Moment, a company automating trading and portfolio management workflows for fixed income, announced that it has raised $36 million in Series B funding led by Index Ventures, with participation from Andreessen Horowitz, Lightspeed Venture Partners, Venrock, Neo, and Contrary Capital.
The round brings Moment’s total funding to $56 million and “will be used to accelerate growth, advance partnerships with leading financial institutions, invest in research and development, and continue expanding its team in New York City.”
Dylan Parker, CEO and co‑founder of Moment, said demand for fixed income has increased dramatically and firms are working with them to “co-create’ the future of fixed income.
The funding comes amid a period of rapid transformation for the fixed income market as electronic trading has boomed and incumbents are looking to Fintechs to help them better manage their activities.
Despite the market’s scale, most workflows “remain manual: traders juggle multiple screens, portfolio managers exchange sprawling spreadsheets, and critical coordination still happens by phone or chat.”
Moment’s platform unifies “trading, research, portfolio optimization, reporting, and risk and compliance in a single system, with a layer of automation that allows financial institutions to supercharge their fixed income teams.”
Financial institutions may use Moment to execute thousands of trades in seconds with automated rules, optimize tax exposure, scan for compliance issues, and more.
Moment recently announced strategic partnerships “with LPL Financial, the largest independent broker-dealer in the U.S. with over $2T in assets under management.”
Moment is also partnering with Sanctuary Wealth, “a hybrid RIA and broker-dealer with over $50B in assets under management.”