
Wematch announces a second close to its Series B and welcomes Barclays and CE Innovation Capital to the round. The deal closed on 3 December 2021. Investors in the first close of the funding round included DB1 Ventures, J.P. Morgan, Augmentum Fintech PLC and Illuminate Financial.
Wematch develops web-based solutions to replace voice broking by automating matching, negotiation and lifecycle management for instruments such as securities borrowing and lending, total return swaps, interest rate derivatives, as well as equity derivatives. It provides market participants with a one-stop solution across a range of assets, cutting costs for clients, increasing efficiency and reducing conduct risk for traders.
The investors support the vision of Wematch to help the capital market industry in further adopting digital solutions across multiple markets globally, and to apply this technology to internal and client-facing solutions.
Spyros Varoutsis, Head of Delta1 Trading EMEA at Barclays said:Â âBarclays is delighted to partner with WeMatch. By combining our strengths, we can drive innovation and automation in trading technology, bringing efficiencies for market participants and best-in-class trading solutions for our clients.â
Albert Loo, Deputy Head of Sales for Global Markets at Societe Generale said:Â âSince the early days of our relationship, Wematch team continuously demonstrated its ability to deliver cutting-edge platforms and technology. Societe Generale naturally renews its trust through participating to the Series B and is delighted to welcome new investors to accelerate Wematch technology adoption across markets and participants.â
Zheng Cui, partner of CE Innovation Capital said:Â âWe believe WeMatchâs mission-critical technology solution, covering from trade discovery to workflow and compliance, is the key to drive the digitalization of the derivatives market. As a global Fintech investor, we are excited to be part of WeMatchâs story, and look forward to work with the team on its global expansion strategy.â
Joseph Seroussi, CEO of Wematch said:Â âWe are very excited in welcoming Barclays and CE Innovation Capital as new investors and very thankful for the continued support from Societe Generale.
This Series B combines the support from our Banking Partners, a leading Market Structure, and expert VC funds and will allow us to deliver our promise to accelerate the digitalization of our industry across all regions.
Augmentum invests in fast growing fintech businesses that are disrupting the financial services sector. Augmentum is the UKâs only publicly listed investment company focusing on the fintech sector in the UK and wider Europe, having launched on the main market of the London Stock Exchange in 2018, giving businesses access to patient capital and support, unrestricted by conventional fund timelines and giving public markets investors access to a largely privately held investment sector during its main period of growth.
Barclays is a British universal bank. We are diversified by business, by different types of customers and clients, and by geography. Our businesses include consumer banking and payments operations around the world, as well as a top-tier, full service, global corporate and investment bank, all of which are supported by our service company which provides technology, operations and functional services across the Group.
Founded in 2016, CE Innovation Capital (âCEICâ) is a venture fund that invests in technology-enabled enterprises globally with a focus on Fintech, frontier technologies, enterprise solutions, marketplace platforms, and digital healthcare. CEIC was ranked among the âTop 9 Fintech Unicorn Investorsâ globally by CB Insights and âMost Active Fintech Investors 2019â by Financial Technology Partners. It was also nominated for âTop Fintech Equity Investorâ Award at the sixth LendIt USA Annual Conference and was named as the âTop Fintech Investor of the Yearâ by The Asset in 2021. Website: http://www.ceinnovationcap.com/
DB1 Ventures is the corporate venture capital arm of Deutsche Börse Group. Its vision is to be a strategic partner of choice for early-stage to growth-stage companies which are core or adjacent to Deutsche Börse Groupâs strategy, generate attractive investment returns and add strategic value to its growth plans.
As an international exchange organisation and innovative market infrastructure provider, Deutsche Börse Group ensures markets characterised by integrity, transparency and stability. With its wide range of products, services and technologies, the Group organises safe and efficient markets for sustainable economies. Its business areas extend along the entire value chain in exchange trading, including the admission, trading and clearing, and custody of securities and other financial instruments, the dissemination of market data, as well as the management of collateral and liquidity. As a technology company, the Group develops state-of-the-art IT solutions and offers IT systems all over the world.
With more than 9,000 employees, the Group has its headquarters in the financial centre of Frankfurt/Rhine-Main, as well as a strong global presence in locations such as Luxembourg, Prague, London, New York, Chicago, Hong Kong, Singapore, Beijing, Tokyo and Sydney.
Illuminate Financial is a thesis-driven venture capital firm dedicated to enterprise fintech and B2B software companies building technology solutions for financial services. With offices in London, New York and Singapore, the teamâs deep domain expertise and best-in-class industry networks make them the trusted partner of choice for ambitious start-ups and financial institutions.
Societe Generale is one of the leading European financial services groups. Based on a diversified and integrated banking model, the Group combines financial strength and proven expertise in innovation with a strategy of sustainable growth. Committed to the positive transformations of the worldâs societies and economies, Societe Generale and its teams seek to build, day after day, together with its clients, a better and sustainable future through responsible and innovative financial solutions. Active in the real economy for over 150 years, with a solid position in Europe and connected to the rest of the world, Societe Generale has over 133,000 members of staff in 61 countries and supports on a daily basis 30 million individual clients, businesses and institutional investors around the world by offering a wide range of advisory services and tailored financial solutions.
The Group is built on three complementary core businesses:
Societe Generale is included in the principal socially responsible investment indices: DJSI (Europe), FTSE4Good (Global and Europe), Bloomberg Gender-Equality Index, Refinitiv Diversity and Inclusion Index, Euronext Vigeo (Europe and Eurozone), STOXX Global ESG Leaders indexes, and the MSCI Low Carbon Leaders Index (World and Europe).
For more information, you can follow us on Twitter @societegenerale or visit our website www.societegenerale.com.
Peter Josse
Deutsche Börse AG / DB1 Ventures
+49-69-211-16966
[email protected]
Nigel Szembel
Augmentum Fintech PLC
+44-7802-362088
[email protected]
Ellie Austin
Barclays
+44 (0) 207 773 6461
[email protected]
Keyao He
CE Innovation Capital
+86-18810523966
[email protected]
Rosie Zehtab
Illuminate Financial
+44-203-198-1600
[email protected]
Adrien Billet
Societe Generale
+33 (0) 1 42 14 66 83
[email protected]
David Raccat
Wematch
+44-7500-896-826
[email protected]
[email protected]
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