TLDR: London-based 9fin has successfully raised $50 million in a Series B funding round, led by Highland Europe, to further develop its AI-powered analytics platform for the debt capital markets. The investment will fuel advancements in its AI technology, expand its analytics team, and accelerate its expansion into the United States. The company has seen significant growth, including a 400% increase in annual recurring revenue since its last funding round in 2022.
London, UK – 9fin, a leading AI-powered analytics platform for debt capital markets, announced on December 2, 2024, the successful closure of a $50 million Series B funding round. The investment was spearheaded by Highland Europe, with notable participation from existing investors including Spark Capital, Redalpine, Seedcamp, 500 Startups, and Ilavska Vuillermoz Capital.
The substantial capital injection is earmarked to significantly enhance 9fin’s cutting-edge AI technology, bolster its analytics team, and accelerate its strategic expansion within the United States market. The company’s platform is designed to revolutionize the debt capital markets by providing comprehensive intelligence on high-yield bonds, leveraged loans, distressed debt, collateralized loan obligations (CLOs), private credit, and asset-backed finance.
Since its Series A+ round in 2022, 9fin has demonstrated remarkable growth, achieving a 400% increase in group-wide Annual Recurring Revenue (ARR), with its U.S. operations experiencing even faster growth. The company has also doubled its customer base, now serving nearly 200 firms across global credit markets, including major investment banks, private equity firms, credit fund managers, and law firms. Its workforce has expanded from 79 to 240 employees, and the tech team, which constitutes a quarter of the total staff, has boosted product velocity by 40%. Additionally, 9fin recently established an office in Belfast to further enhance its data capabilities.
9fin’s platform integrates generative AI to offer advanced functionalities such as agentic Q&A tools, real-time market updates, and sophisticated search capabilities, centralizing critical information for credit analysis and mandate acquisition.
Steven Hunter, Co-founder and CEO of 9fin, emphasized the market’s need for innovation, stating, “Debt markets are the biggest overlooked asset class in the world and yet they still rely on technology and information sources straight out of the 1980s—opaque, slow and messy. We started 9fin to give market professionals a data edge with smarter, faster intelligence. I am really proud of the product, team and company culture we have built so far at 9fin, and we are just getting started.”
Huss El-Sheikh, Co-founder and CTO, highlighted the company’s pioneering role: “From the moment we started building at our kitchen table, 9fin has pioneered the use of AI in debt capital markets, setting a new industry standard.”
Also Read:
- Northsea Secures €660K Pre-Seed Funding to Revolutionize Customer Research with AI
- Jack & Jill AI Secures $20 Million Seed Funding to Revolutionize Recruitment with Autonomous AI Agents
Fergal Mullen, Co-founder and partner at Highland Europe, expressed confidence in 9fin’s trajectory, noting, “Debt markets are booming but data intelligence platforms are not keeping up with the needs of this massive asset class. 9fin’s vision, combined with their relentless focus on technology, user experience and company values has set them apart as the go-to platform for debt professionals. We’re thrilled to support their ambition to become the global leader in debt analytics.” This sentiment underscores the growing demand for advanced technological solutions in a rapidly expanding financial sector.
