Investment in capital markets FinTech firm is designed to enhance trading analytics platform and fuel new business growth.
London & Amsterdam, 11 th July 2023: Propellant.digital (“Propellant”), the analytics FinTech which captures and analyses global trading activity to drive business decisions, has secured a strategic investment led by Volta Ventures, the seed and early-stage venture capital firm focused on software startups.
Since Propellant was launched in mid 2021 its analytics platform has attracted over 27 clients, including 8 of the world’s top 10 fixed income trading banks, 2 Asset Managers, 2 Hedge Funds and 4 trading venues.
Despite a wealth of available trading data, including the size and price of traded bonds, the Fixed Income market is opaque, where firms are unable to maximise the full value of available information. The result of a highly fragmented market, information is held in numerous siloes and in multiple different formats.
Propellant resolves this market-wide issue by unifying all global Fixed Income trading activity. Utilising Propellant’s technology platform, clients can access public and proprietary trading activity from cash, Fixed Income derivatives and ETFs globally. The Propellant platform normalises, cleans, and validates the data, then provides clients with a wide range of analytical tools. The software solution is an open, cloud-native, analytics platform which meets ISO 27001 requirements.
Propellant was founded by Vincent Grandjean who created the platform to maximise the value of public and proprietary trading activity, following 20 years in the industry at banks including SocGen, Citi and UBS. His co-founder, Allan Horgan is Chief Technology Officer who has extensive technical experience in Capital Markets, market data and regulation from ABN Amro, Optiver, HSBC, Morgan Stanley, Deutsche Bank and UBS. The firm’s mission is to take financial markets trading activity and make it transparent, accessible, and affordable to all parties in the financial ecosystem.
At launch the firm’s focus was Europe, leveraging MiFID II transparency and clients’ trading activity. Earlier in 2023 it added US TRACE and SDR/SEF. Now firms trading in Europe and USA are able to get a complete picture of all their trading activity under a single lens.