AccessFintech is focused on the capital markets.

AccessFintech raised a $60 million Series C funding round, led by WestCap with investment from BNY Mellon (NYSE: BK) and Bank of America (NYSE: BAC), with repeat participation from existing investors Dawn Capital, J.P. Morgan (NYSE: JPM), Goldman Sachs (NYSE: GS) and Citi Group (NYSE: C). (AccessFintech)

AccessFintech’s Synergy data collaboration network has a cloud-based approach to global data custody and management to reduce transactions costs and compress fees through collaboration and accelerated workflows, and helps organizations meet regulatory requirements. It is used by a growing number of leading global banks and broker-dealers, custodians, and asset managers and currently counts over 100 participants. The product coverage has been expanded and now also includes derivatives and syndicated loans.

According to The Trade, Citi and JP Morgan, after a year-long collaboration with the company’s Synergy Network, reported a 30% reduction in trade fails and a 76% drop in email traffic for operational processes.

Roy Saadon, CEO, AccessFintech, said in a statement: “We are fortunate to fuel our next stage of growth with partners that combine a highly regarded growth VC and global strategic investors. We share the vision of data being the catalyst for innovation and growth and the critical role AccessFintech plays as an essential provider of trusted data governance infrastructure. We are poised for a period of significant expansion and look forward to working with all our investors as we launch in additional markets.”

Kevin Marcus, Partner, WestCap, said: “AccessFintech has established itself as the technology partner trusted to solve long standing workflow challenges on behalf of the world’s leading financial institutions, creating a powerful data collaboration network, driving massive efficiency gains and unlocking pools of capital for its customers. AccessFintech’s sharing and pairing solution is the industry’s answer to complex issues such as the Central Securities Depositories regulation and penalty management, pre-matching and the transition to T+1 settlement.”

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