Hidden Road Secures $50 Million in Series A Funding Round

Hidden Road, a global credit network, announced on Thursday that it had closed a $50 million Series A funding round led by Castle Island Ventures.

According to the press release, Citadel Securities, FTX Ventures, Uncorrelated Ventures, Greycroft, XBTO Humla Ventures, Wintermute, SLN Capital, Profluent Trading, Coinbase Ventures and Corner Capital, among other investors, participated in the funding round. Michael Higgins is the Partner and Global Head of Business Development of the firm and a former FXCM senior executive.

Across venues, products and asset classes, Hidden Road’s quantitative platform provides real-time risk management and seamless credit. For both traditional and digital assets, the company offers prime brokerage, clearing and financing services.

“Hidden Road solves many of today’s problems in credit intermediation and prime brokerage caused by legacy technology, archaic workflows and conflicts of interest. Among these problems is the difficulty that institutional investors have in getting the credit and financing they need to trade efficiently across fragmented global markets,” the firm noted in the announcement.

Finance Magnates has approached Michael Higgins for comments about the funding. We'll update this article with the comments accordingly.

Recent Funding Rounds

In recent funding round announcements in the fintech sphere, revenue-based financing platform, Bloom recently announced that the company had secured £300 million in its Series A investment round. Led by Credo and funds managed by Fortress Investment Group LLC, the funding will help Bloom achieve its mission of providing support to digital entrepreneurs in Europe.

As part of the mentioned transaction, Christopher Dailey, the Co-Managing Partner of Credo, will join the company’s Board. Additionally, he will play an important role in Bloom’s expansion across different regions. Hickson is an experienced fintech executive. In his extensive career, he worked with Morgan Stanley for more than 15 years and held different roles, including the position of Executive Director of Technology Business Development.