London, United Kingdom – [Wednesday 2 September] – Wematch.live (“Wematch”) today announced a strategic investment from funds advised by Apax Digital, the growth equity arm of Apax Partners LLP (“Apax”), supporting Wematch’s mission to become the leading technology platform for securities finance and capital markets workflows.
Securities finance sits at the centre of global capital markets. Banks, brokers and investors use total return swaps and securities lending to finance positions, manage collateral and put inventory to work. Screens reached parts of this market long ago, but its most complex trades, and much of what happens after execution, are still handled over phone calls, chat messages and spreadsheets. A single total return swap can reference a basket of hundreds of securities, each needing substitutions, resets, and corporate action handling across the life of the trade. This is manual work that consumes trading capacity and carries real operational risk.
Wematch replaces that manual work with regulated, deterministic, and fully auditable infrastructure covering the full life of a trade. Most major banks, and a growing number of buy-side institutions, use the platform to find counterparties, compare and negotiate terms, execute, and manage every subsequent lifecycle event in a single workflow, connected to their own systems through APIs. The platform operates a regulated multilateral trading facility in Europe and a regulated broker-dealer, security-based swap execution facility and alternative trading system in the United States.
The results are reflected in the platform’s strong levels of adoption and activity. Close to $2 trillion of ongoing notional is now managed on Wematch, and over the past twelve months the platform handled some $7 trillion of basket substitutions, work that once took hours over phone and chat and now completes in minutes.
Wematch’s strategic investors, Barclays, the Deutsche Börse Group, J.P. Morgan, and Societe Generale will remain invested alongside the Apax Digital Funds, continuing partnerships that in several cases date back to Wematch’s earliest years. Following completion, the Apax Digital Funds will be Wematch’s majority shareholder, and the company will continue to operate as an independent platform serving all market participants.
Completion is expected in Q4 2026, subject to customary regulatory approvals.
“When we founded Wematch ten years ago, we believed securities finance needed a better way of working. Our vision was to bring trading and workflows together on a single platform, eliminating unnecessary complexity so market participants could focus on what they do best.
This partnership gives us the backing to pursue that vision at a new level. Together with Apax and the continued support of Barclays, the Deutsche Börse Group, J.P. Morgan and Societe Generale, we’re strengthening the foundations of Wematch as a globally regulated market infrastructure for securities finance.
None of this would have been possible without the trust of our clients and partners, or without the dedication of the Wematch team over the past decade. Our clients have helped shape our platform, and our people have quietly built the company that stands here today.
For our clients, this is a clear signal: Wematch is built to last. We’ll continue investing in our regulated footprint across major financial markets, expanding our global platform, and deploying AI capabilities that are already transforming how our clients operate.
Our mission hasn’t changed. We now have the means to deliver it at a different scale.”
“Market after market has been transformed by electronic workflows: equities, FX, rates, and credit. Securities finance is next, and Wematch is becoming its operating system. Close to two trillion dollars of notional already runs on its regulated infrastructure, and the world’s leading banks and market infrastructure providers aren’t just its customers and partners – they’re its shareholders. We’re thrilled to partner with Joseph, David, Elie, Guillaume, Anne and the team to build the defining platform in this market.”
Wematch.live is a global, regulated fintech platform transforming securities finance through digitised, interoperable workflows. The platform connects buy- and sell-side institutions across Total Return Swaps (TRS), Securities Lending (SBL) and related financing structures, enabling market participants to optimise collateral, streamline negotiation and manage the full trade lifecycle within a secure digital environment.
Operating across London, New York, Paris, Tel Aviv and Hong Kong, Wematch.live supports over 1,500 users and 135 legal entities globally. The platform integrates pre-execution, negotiation and post-trade data into a single workflow, enhancing transparency, productivity and operational control while reducing cost and risk.
By combining regulated market structure with automation, interoperability and data intelligence, Wematch.live delivers measurable efficiency gains, improved capital deployment and stronger connectivity across the global securities finance ecosystem. For more information see: www.wematch.live
The Apax Digital Funds specialise in growth equity and buyout investments in high-growth enterprise software, consumer internet, and technology-enabled services companies worldwide. The Apax Digital team leverages Apax’s deep tech investing expertise, global platform, and specialised operating experts, to enable technology companies and their management teams to accelerate the achievement of their full potential. For further information, please visit http://digital.apax.com.
Apax is a global private equity advisory firm investing in mid-market businesses across the Technology, Services, and Internet/Consumer sectors. Combining the scale of a global firm with the focus of a sector specialist, Apax works with management teams to create long-term value through operational value creation. With more than 50 years of private equity experience in operational value creation, Apax has raised and advised funds with aggregate commitments of approximately $80 billion. For more information see: www.apax.com
David Raccat, CRO of Wematch.live
Wematch.live
Kathryn Middleton
kathryn.middleton@wematch.live
Apax
Katarina Sallerfors
katarina.sallerfors@apax.com
