Tradefeedr secures £2.2 million Pre-Seed investment from IPGL

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Tradefeedr completes successful fund-raising round, with backing  from IPGL 

Group raises $3 million to finance growth and development 

IPGL, the private investment company run by Michael Spencer, founder and  former CEO of ICAP and NEX, becomes cornerstone investor 

Seth Johnson, former CEO of NEX Markets and CME Cash Markets, also backs  funding round and is appointed Chairman 

(London, 21 December 2020): Tradefeedr is pleased to announce that it has raised $3  million in early-stage financing, to modernise trading analytics workflows. 

Over the past year Tradefeedr has signed up 14 liquidity providers and a number of clients  to use the platform, including Goldman Sachs, UBS, XTX Markets and Insight Asset  Management. Tradefeedr allows clients to query and analyse their FX trading data from  participating liquidity providers and ECNs via a standardised API, enabling them to improve  the quality of their trade execution. 

The majority of the new funds come from IPGL, the private investment company owned by  Lord Michael Spencer, the founder of global markets company, ICAP plc and subsequently  financial technology business, NEX plc. IPGL is a leading fintech investor with a focus on  new applications for the wholesale market. 

Seth Johnson, former CEO of NEX Markets, is also supporting the fund raising and has  been appointed as Tradefeedr’s Chairman to support the business in its development. 

Tradefeedr was established in 2018 by Balraj Bassi and Alexei Jiltsov, who had previously worked together at Lehman Brothers and launched Blacktree, a macro systematic hedge  fund.  

Bassi and Jiltsov said:

“We are excited by the support we have received from IPGL and that  someone of Seth’s calibre has agreed to become our Chairman. We believe that our  platform will deliver significant benefits to market participants, through improving  collaboration and giving better access to trading information, which will lead to enhanced  decision making. There is a huge demand for greater transparency in financial markets and  Tradefeedr can help meet that demand.” 

Seth Johnson said:

I am delighted to become chairman of Tradefeedr and have the  opportunity to back the business. Tradefeedr is precisely the type of company we used to  look to invest in when I was at NEX – one with great technology, a great product and great 

growth potential, as well as talented and expert founders. I am looking forward to working  with Balraj and Alexei to help them deliver on the company’s potential.” 

Michael Spencer added:

“Tradefeedr is a really promising financial technology business, with  the right combination of technical knowhow and market wisdom and I am very pleased to be  able to back it at this stage in its development. I believe they have an excellent product and I  wish Seth, Balraj and Alexei every success.” 

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Enquiries  

Maitland/AMO +44 (0)20 7379 5151 

Neil Bennett 

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Freddie Barber

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