HUBX, a deal syndication platform for banks and brokerage firms, has closed £1.1 million in new funding.
The company, which counts Finastra and Barclays among its clients, welcomes two new investors, Mandalore Partners and ACF Investors’ Delta Fund.
They join other existing investors including Barclays and Basinghall Partners.
The platform allows financial institutions to digitise their syndicated lending and private placement transactions by collaborating safely with other organisations without sharing private data. This gives every HUBX client access to other client networks for deal syndication and joint bookrunning on a private basis.
HUBX simplifies collaboration between banks by allowing institutions of all sizes to quickly deploy their own deal syndication platform and share deals on their own terms privately.
Each platform leverages actionable insights and structured data that connects with back-office systems such as Fusion Loan IQ, to deliver a single source of truth and straight through processing.
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“Banks are embracing end-to-end execution and better customer experience across the value chain. The front-end deal syndication process is the logical next step in terms of digitisation in capital markets,” said co-founder Axel Coustere.
“We look forward to working with Mandalore Partners and ACF Investors on delivering platform adoption in this space.”
Fellow co-founder Stephen Ong added: “We are excited to be digitally connecting more players in the private deal syndications markets.
“By providing a single infrastructure to large and small banks alike, we can deliver significant efficiency gains for large institutions, cost-effective cutting-edge technology to the smaller ones and digital transformation of front office operations, out of the box.”