TransFICC Raises $25 Million in Series B Round Led by Citadel Securities

TransFICC has announced the closing of a $25 million Series B funding round, with Citadel Securities leading the investment. BlackFin Tech also joined the round, alongside existing backers including AlbionVC, Citi, HSBC, Illuminate Financial, ING, and neosfer, the early-stage investor affiliated with Commerzbank. This latest capital injection brings the company’s total funding to $50 million.

The London-based firm provides low-latency connectivity and workflow services for Fixed Income and Derivatives markets, serving both trading venues and buy-side and sell-side firms. The new funding is expected to accelerate the expansion of TransFICC’s product suite and infrastructure, particularly in response to growing demand for automated trading solutions.

“A piece of critical infrastructure for Fixed Income markets”

Amit Bhuchar, Global Head of Fixed Income at Citadel Securities, commented, “Citadel Securities has a long history of developing innovative solutions to help our clients and partners address their most complex liquidity and execution challenges. We are pleased to partner with TransFICC to shape the future of Fixed Income market making through increased automation, connectivity and efficiency.”

Michele Foradori, Partner at BlackFin Tech, added, “TransFICC is providing a piece of critical infrastructure for Fixed Income markets. We are excited by the pace of innovation taking place in this space and fully embrace Steve, Judd and Tom’s vision to make TransFICC the go-to solution for all market participants to electronically trade any Fixed Income product.”

The company has focused on simplifying and accelerating connectivity to electronic venues, allowing trading firms to reduce the time and cost associated with developing and maintaining custom connections. TransFICC currently supports over 60 trading venues and its client base includes 20 market participants and three exchange groups.

Steve Toland, co-founder at TransFICC, said, “Wide-ranging structural changes, including the increased adoption of algo tools, the growth of all-to-all markets and the rise of Fixed Income ETFs are driving volumes up, creating increased demand for automated solutions. TransFICC launched TransACT (Automated Customer Trading) last year to address this need in Credit and is now extending asset class coverage to Government Bonds, IRS and Repo.”

Judd Gaddie, also a co-founder, noted, “Now more than ever, market makers need to quote quickly to win business. TransFICC has already built data centre hosting in North America, Europe and Asia. Additionally, we are hosting our client’s applications on the TransFICC platform to reduce latency.”

Tom McKee, co-founder, commented, “Fixed Income trading firms need to support and expand venues and workflows while maximising efficiency. However, the time and development costs of connectivity can be significant. At TransFICC, our intention is to enhance our venue and workflow support so that clients can connect more quickly and at a lower cost.”

As electronic trading continues to reshape the Fixed Income landscape, TransFICC’s technology positions the company as a central infrastructure provider for firms seeking high-speed, scalable, and cost-effective access to fragmented liquidity.