TLDR: London-based 9fin, a leading AI-powered analytics platform for debt capital markets, has successfully raised $50 million in a Series B funding round. Led by Highland Europe, with participation from existing investors, the capital will fuel further investment in its AI technology, expand its analytics team, and accelerate its growth in the United States.
9fin, the innovative AI-powered analytics platform transforming debt capital markets, announced on December 2, 2024, the successful close of a $50 million Series B funding round. The significant investment was spearheaded by Highland Europe, with continued support from existing investors including Spark Capital, Redalpine, Seedcamp, 500 Startups, and Ilavska Vuillermoz Capital.
The fresh capital infusion is earmarked for strategic initiatives designed to solidify 9fin’s market leadership. The company plans to invest further in its cutting-edge AI technology, significantly grow its analytics team, and accelerate its ambitious expansion plans across the United States. This funding round underscores the growing demand for sophisticated data and analytics solutions in the traditionally opaque and slow-moving debt markets.
9fin has established itself as a pioneer in applying advanced technology to the $141 trillion global debt capital markets. Its platform centralizes critical credit information, providing intelligence on high-yield bonds, leveraged loans, distressed debt, CLOs, private credit, and asset-backed finance. Notably, 9fin was among the first information providers in the sector to integrate generative AI, offering agentic Q&A tools, real-time market updates, and advanced search capabilities that allow users to seamlessly query vast datasets and earnings transcripts.
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. business expanding at an even faster rate. The company has more than doubled its customer base to nearly 200 of the largest firms in global credit markets. This includes leading investment banks, distressed debt advisors, private equity firms, credit fund managers, and law firms. Asset managers utilizing 9fin’s platform collectively manage over $17 trillion in assets under management (AUM).
Steven Hunter, Co-founder and CEO of 9fin, emphasized the market opportunity, stating, “Credit markets are the biggest overlooked asset class in the world and growing rapidly, but there is a huge gap to make up in the quality and speed of information that is available. There’s a massive opportunity to bring this business into the AI age and we intend to be the world’s number one provider of analytics in debt markets.” He added, “We started 9fin to give professionals in the market a data edge, with smarter, faster intelligence.”
Fergal Mullen, Co-founder and Partner at Highland Europe, echoed this sentiment, remarking, “Debt markets are booming but data and technology offerings simply haven’t kept pace. 9fin’s vision, its relentless focus on technology, innovation and company culture, positions it as the go-to platform for those working in debt markets. We’re thrilled to support their ambition to become the global market leader.”
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The company has also expanded its workforce to 240 employees and recently doubled the size of its tech team, significantly enhancing product development speed. This investment comes at a time when the broader financial sector is increasingly embracing AI, with 72% of finance leaders reportedly using AI in their operations for applications such as fraud detection and customer onboarding automation.
