With Asia in Mind, Xignite Closes $20.5 Million Series C Funding Round

Following its busiest month in terms of API calls for its data, Xignite has announced the close of a Series C $20.5 million Funding Round Funding Round Startups look to raise capital can participate in a funding round. These refers to the various rounds of funding that occur upon proof of concept, customer base growth, and the probability of success. While they are various types of funding rounds, the most commonly seen in startups include the following funding rounds: Seed, Series A Fundraising, Series B Fundraising, and Series C Fundraising. In order for a funding round to take place, a valuation must be performed by analysts for the business Startups look to raise capital can participate in a funding round. These refers to the various rounds of funding that occur upon proof of concept, customer base growth, and the probability of success. While they are various types of funding rounds, the most commonly seen in startups include the following funding rounds: Seed, Series A Fundraising, Series B Fundraising, and Series C Fundraising. In order for a funding round to take place, a valuation must be performed by analysts for the business Read this Term. The deal was led by Japanese financial information provider, QUICK Corporation, a unit of the Nikkei Group. Also participating in the round were StarVest Partners, Altos Ventures, and Startup Capital Ventures, with Xignite’s total funding raised reaching $37 million.

According to Xignite, the funding will be used to help it scale its sales and marketing as well as expand its product offering. As part of the investment, Atsuyuki Nakajima, QUICK Corporation Managing Director, is joining Xignite’s board of directors.

Last week, in a separate update from Xignite, the company expressed to Finance Magnates that a major part of its growth is being powered by Asian demand. In this regard, Asia is an important part of the current deal, as in connection with their investments, QUICK Corporation and Xignite are partnering to deliver their financial data products in Asia.

In addition to demand from the Asian region, Xignite also related Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term firms being an area of growth for it. This trend was cited by Stephane Dubois, CEO and founder of Xignite when commenting on the current investment round: “The fintech revolution has only just begun and will sweep all aspects of the financial services industry in the coming years. Financial institutions can no longer afford to operate rigid and proprietary data infrastructures. Fintech innovators continue to put pressure on more traditional financial services companies. These legacy institutions must innovate and simultaneously cut costs if they want to survive and thrive in this new paradigm.”

In regard to Asia and partnering with Xignite, Noboru Yoshioka, QUICK Corporation President and CEO stated: “Asia is the world’s largest fintech frontier and the region is experiencing hyper-growth. We are very pleased to announce that QUICK has partnered with Xignite, one of the most innovative fintech companies in the financial services industry. By combining our experience and leading position in Asia with Xignite’s technology and innovation, we have a unique opportunity to capture the growth in this market.”