9fin, a London-based fintech specialising in AI-powered analytics for debt capital markets, has successfully secured $50 million in a Series B funding round led by Highland Europe. This substantial investment aims to enhance 9fin’s technological capabilities, expand its analytics team, and accelerate its growth in the United States.
Since its inception in 2016 by co-founders Steven Hunter and Huss El-Sheikh, 9fin has rapidly emerged as a pivotal player in the financial data sector. The company employs advanced artificial intelligence to provide comprehensive insights into high-yield bonds, leveraged loans, distressed debt, and other credit instruments. This innovative approach has attracted a diverse clientele, including leading investment banks, asset managers, and law firms.
The recent funding round reflects 9fin’s impressive growth trajectory. The company has expanded its workforce to nearly 250 employees and achieved a 400% increase in annual recurring revenue (ARR). Notably, its U.S. ARR has surged by over 500%, underscoring the firm’s successful penetration into the American market.
9fin’s platform distinguishes itself by integrating generative AI, exemplified by the launch of 9fin AI, the first such tool tailored for credit markets. This technology enables users to access real-time market updates, perform advanced searches, and receive predictive analytics, thereby streamlining workflows and enhancing decision-making processes.
The company’s commitment to innovation is further evidenced by its expansion into sectors such as distressed debt, structured credit, private credit, and Environmental, Social, and Governance (ESG) analytics. This broadening of services has contributed to more than doubling its customer base to nearly 200 of the world’s largest firms.
Highland Europe’s investment in 9fin signifies a strong endorsement of the company’s vision and technological prowess. Fergal Mullen, Co-founder and Partner at Highland Europe, is set to join 9fin’s board, bringing valuable expertise to support the company’s ambitious goals.
This Series B funding adds to the nearly $90 million that 9fin has raised since its establishment. The company is on track to become cash flow positive by next year, reflecting its robust financial health and sustainable business model.
Looking ahead, 9fin aims to solidify its position as a global leader in debt market analytics. The infusion of capital will facilitate the development of next-generation AI tools, expansion into new asset classes, and further growth in the U.S. market. As CEO Steven Hunter remarked, “There’s a huge opportunity to build the #1 global provider of debt market analytics, and bring debt markets into the AI age.”
In summary, 9fin’s recent funding milestone underscores its commitment to revolutionising debt capital markets through innovative AI-driven solutions. With strong investor confidence and a clear strategic vision, the company is poised for continued success and industry leadership.
