TruMid Secures $10 Million

Fintech startup TruMid completed $10 million in financing. Three investors participated in the round, among them Deutsche Boerse.

Trumid is an all-to-all electronic credit trading platform that seeks to unlock liquidity and make bond and CDs trading easier for institutional clients. The company helps buyers and sellers navigate the often-opaque corporate bond market through a combination of technology and data. Trades on Trumid occur in “swarms,” which are trading sessions that launch when compatible orders exist. The platform’s “Swarm on Demand” feature gives users the ability to initiate trading sessions on any of roughly 32,000 corporate securities. The platform is currently trading high yield, distressed and investment grade securities, and it plans to launch CDs in the near future.

Trumid was founded in 2014 by credit professionals with more than 100 years of combined trading experience and is headquartered in New York City. Trumid is a FINRA-registered broker/dealer and an SEC-regulated Alternative Trading System (ATS).

The company revealed that it plans to expand into Europe to extend its offerings to its 350 institutional clients, many of which operate globally.