Financial technology firm AccessFintech has announced that JPMorgan Chase has invested in the company in its series A round.
The investment was made following an initial seed round that was privately funded. Financial terms of the investment were not revealed.
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Furthermore, AccessFintech has also joined JP Morgan’s exclusive In-Residence programme that assists emerging financial technology companies. It is expected to allow AccessFintech to test its technology at scale.
JP Morgan global head of markets & investor services operations Lawrence Waller said: “We have been tracking AccessFintech’s product evolution for some time and we think its ability to bring together different parts of the post-trade process into one aggregated view is technology that is long overdue in the industry.
“To progress further, they need the opportunity to work at scale and so they make a very natural fit for our In-Residence programme, which encourages success through collaboration and the sponsorship of our senior management.”
AccessFintech products aim to reduce exposure time as well as operational and technology costs.
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