Bank of America and BNY Mellon Join AccessFintech’s $60 Million Funding Round

The financial technology firm, AccessFintech has recently completed its $60 million Series C funding round. Led by WestCap, the investment round witnessed participation from financial giants like Bank of America and BNY Mellon.

Since 2018, AccessFintech has secured a total of $97 million in funding. The fintech company is planning to use the funds to expand its operations with a focus on the expansion of collaborative data management network.

In addition to WestCap, Bank of America and BNY Mellon, the latest $60 million investment round saw participation from Dawn Capital, JP Morgan, Goldman Sachs and Citi Group. Kevin Marcus and Caroline Butler will join AccessFintech’s Board of Directors.

Commenting on the funding round, Roy Saadon, the CEO of AccessFintech, said: “We are fortunate to fuel our next stage of growth with partners that combine a highly regarded growth VC and global strategic investors. We share the vision of data being the catalyst for innovation and growth and the critical role AccessFintech plays as an essential provider of trusted data governance infrastructure. We are poised for a period of significant expansion and look forward to working with all our investors as we launch in additional markets.”

In March 2022, Fabrice Carrier joined AccessFintech as the company’s Head of Derivatives Product Line to facilitate its growth.

Fintech Funding

Due to the latest slowdown across global financial markets, fintech funding across Europe and the UK dipped in the first half of 2022. However, financial technology platforms like Mesh Payments and Balance have secured decent funding in the past few months.

“We’re excited to support AccessFintech’s growth and expansion,” said Caroline Butler, the CEO of Custody at BNY Mellon. “Democratizing data across market participants reduces operational friction and associated costs and improves settlement, all of which are critical to our clients and the smooth functioning of the capital markets. This latest strategic venture reinforces our commitment to collaborating with leading fintechs and investing in emerging technology to transform the asset servicing space, as we look to expand and curate a digital ecosystem for clients.”