JPMorgan has joined a Series A funding round in AccessFintech, a post-trade startup created to help buyside and sell-side firms manage vendor and operational risk across the trade life-cycle.
As part of the funding, AccessFintech will join JPMorgan’s In-Residence programme, which provides a set of processes to help startups test their innovations at scale across the bank’s network.
“We have been tracking AccessFintech’s product evolution for some time and we think its ability to bring together different parts of the post-trade process into one aggregated view is technology that is long overdue in the industry,” says Lawrence Waller, global head of markets & investor services operations at JPMorgan. “To progress further, they need the opportunity to work at scale and so they make a very natural fit for our In-Residence program, which encourages success through collaboration and the sponsorship of our senior management.”
The investment, financial terms of which were not disclosed, was made following an initial seed round that was privately funded.