Feb 12, 2020
Trumid, a Hillhouse portfolio company, is quickly becoming one of the most compelling fintech innovators on Wall Street and is making the Forbes Fintech 50 list this year due to spiking trading volumes and surging user growth. The New York City-based fintech firm and electronic trading platform for corporate bonds saw enormous business momentum to close 2019, said Forbes.
Shortly before its attributed trading release, Trumid also opened a lot of eyes on Wall Street by raising a $60 million funding round led by Hillhouse Capital, one of the pre-eminent technology investors in the world. “We have been highly impressed with Trumid’s ability to use data and technology in developing an outstanding corporate bond trading platform,” Lei Zhang, founder of Hillhouse, said when making the investment.
As Trumid continues to gain momentum, nearly 500 institutions including large banks and some of the world’s biggest debt funds now trade on Trumid, up 15% from the year before.