Roy Saadon; CEO; Accessfintech

AccessFintech secures £15.42 million Series B investment led by Dawn Capital

AccessFintech secures $20 million in Series B financing 

Investment led by Dawn Capital, with additional funding from Deutsche Bank and follow on investing from J.P. Morgan, Citi, Goldman Sachs  

London, New York and Tel Aviv – 6 October 2020: AccessFintech, the leading fintech  company evolving the financial industry operating model through data and workflow  collaboration, is pleased to announce the successful completion of its Series B round of  $20 million, led by Dawn Capital, Europe’s largest venture capital fund dedicated to B2B  software. 

Existing investors J.P. Morgan, Citi and Goldman Sachs contributed to the round, and  Deutsche Bank has participated for the first time. It brings the total capital raised to  date to $37 million since 2018.  

AccessFintech will use the proceeds of the investment to fuel the next stage of its  development, to accelerate product innovation, and to continue its go-to market  expansion and extend its partner ecosystem.  

The company has created a network of participants sharing financial data and standardising workflows. Market participants use the network to collaborate on  exception resolution, distribute data and onboard vendors to create a complete  ecosystem for data and workflow management.  

Since launch, AccessFintech has already gone live with 10 financial products and is in  proof-of-concept or live testing with another 11 products. The collaboration ecosystem  has the participation of many of the leading global banks and broker-dealers,  custodians, asset managers and has created workflow partnerships with industry  vendors and peers.  

Commenting on the investment, CEO of AccessFintech Roy Saadon said:

“Over the past  two years our mission to evolve the financial industry operating model has gained  significant traction and it is testament to the energy and skill of our team, the support of  our clients and our wider network that we have reached this important milestone. We  are thrilled to partner with a firm of the calibre of Dawn Capital who have an  exceptional track record in working with fast growing companies in the fintech sector  and who fully support our strategy. We are also excited to have worked with J.P. Morgan, Citi, Goldman Sachs and Deutsche Bank in this round – they are important  partners for us in our vision of collaboration to maximize efficiencies across the  market.”

Mina Mutafchieva, Principal at Dawn Capital said:

“A unique combination of experienced  entrepreneurs, sponsorship of key market participants and an ecosystem ready to adopt SaaS, was an ideal fit for our investment strategy. AccessFintech’s platform benefits  from a new co-operative spirit in institutional financial services and a willingness to  take advantage of the opportunities opened up by the latest technologies and resource  models. We believe AccessFintech is building a unique and critical part of the future  infrastructure of capital markets and has already won the endorsement of key market  participants. We look forward to supporting the team as they continue to scale and  accelerate their growth.” 

Richard Gordon, Global Head of Securities Services Operations, J.P. Morgan commented: 

“We have been proud supporters of AccessFintech since their origins in our In Residence programme and are pleased to support the next stage of their growth. We  believe in creating better industry collaboration tools for our clients, our peers and  ourselves so that the market as a whole can benefit from better efficiencies in post trade  processes, and AccessFintech has demonstrated the ability to successfully deliver in the  space.” 

Steve Morgan, head of markets operations solutions at Citi, said:

“Our aim is to automate  post-execution practices, whilst improving our user experience through the use of  innovative technology solutions. Our partnership with AccessFintech represents  another example of Citi’s culture to embrace collaboration with start-up technology  firms. We are working closely with AccessFintech to help us on our continual drive to  provide an exemplary service to our clients by reducing complexity and exceptions as  we move towards a fully automated environment.” 

Sarah Shenton, Growth Investor at Goldman Sachs said:

“The pandemic has accelerated  widespread adoption of fintech, a trend clearly seen at AccessFintech in terms of new  participants and volume on the platform. AccessFintech’s offer has successfully created  a shared data network and workflow, enabling more collaborative and efficient  exception management. We are delighted to support their development and continued  success.” 

Stephen Bell, Global Head of FIC and Securities Services at Deutsche Bank said: Partnering with and investing in fintech firms as well as developing in-house expertise  is essential to be at the cutting edge of financial services, as clients seek quicker and  simpler electronic applications of previous processes. We are pleased to be co-investing  in AccessFintech who have proven experience, creativity and expertise in driving  efficiency and solving problems in the context of the global capital markets.” 

Ends

Media contacts 

AccessFintech 
[email protected] 
Serra Balls 
+447775763018 

Dawn Capital 
[email protected] 
Louisa Feltes/Shamma Kelly 
+447843385075/+447811654573 

About Access Fintech 

AccessFintech uses technology to evolve the financial industry operating model. Its aim is to  transform the model to drive control, transparency, efficiency and collaboration across the  whole financial ecosystem. The company has a self-service ethos, where risk is mutualized, and  there is better, more enlightened decision making across organizations and functions. It was  founded in 2015 by a team of financial industry veterans with proven experience, creativity and  expertise in driving efficiency and solving problems in the context of the global capital markets. AccessFintech has created and operate a unique network of financial industry participants,  sharing data and collaborating on exception resolution of trades. The technology is designed in  such a way that clients can quickly and easily adopt the service without significant resource  allocation, enabling firm to control their risk management practices while increasing the  number of services consumed. For further information please go to AccessFintech.com or follow  us on LinkedIn or Twitter.  

About Dawn Capital 

Dawn Capital (“Dawn”) is Europe’s largest specialist B2B software investor, with assets under  management of $550m. The firm partners with innovative companies that, through exceptional  teams, products, and business models can become category-defining, global titans. Dawn is an  early-stage investor, backing companies at Series A and B, and continuing to fund the best performing from growth rounds through to exit. Its roster of investments includes Mimecast  (now NASDAQ-listed with a $2.8bn market cap), iZettle (sold to PayPal for $2.2bn cash),  Collibra, Showpad, Dataiku, Templafy, Quantexa, Garrison, and Tink, amongst others. Read more  at dawn.com and follow us on Twitter and LinkedIn.