FX HedgePool Raises $8M in Series A Funding

FX HedgePool, a New York-based provider of a peer-to-peer matching platform for institutional foreign exchange transactions, raised $8M in Series A funding.

The round was led by Information Venture Partners with participation from Fidelity International Strategic Ventures (FISV) and NAventures, National Bank of Canada’s corporate venture capital arm.

The company intends to use the funds to accelerate a multi-product strategy aimed at delivering further efficiencies for its network of investment managers and banks. In line with its community-centric innovation philosophy, FX HedgePool is launching the FXHP Innovation Pool, a community in which leaders in finance collaborate to address industry challenges by leveraging technology to innovate the world’s largest financial marketplace.

Led by CEO Jay Moore, X HedgePool is a peer-to-peer matching platform for mid-market execution of FX swaps that is separating liquidity from credit unlocking potential for buy-side participants to provide liquidity to each other, while leveraging existing counterparty relationships for credit provision. Passive hedgers can now access a new source of safe and dependable liquidity, eliminating friction for both the buy-side and sell-side. 

Since its launch in January 2020, FX HedgePool has facilitated over $4 trillion in matched foreign exchange trades for dozens of firms.

With over 30 global institutions, including some of the largest asset managers and top-tier banks, now using the platform, the company recently announced its intentions to launch an FX spot matching service by year-end to meet demand from its community of buy-side participants. This natural extension of the company’s product offering will serve to further reduce market impact, tracking error, cost transparency and operational inefficiencies for buy-side participants in the foreign exchange market.

FinSMEs

31/08/2022