Deutsche Börse’s DB1 Ventures leads $19.5 million Series B in WeMatch

The Israeli fintech company focuses on trading workflows for the wholesale derivatives industry

Israeli fintech company WeMatch has completed a $19.5 million Series B funding round led by DB1 Ventures, the corporate venture capital arm of Deutsche Börse. Other investors in the funding round included Augmentum Fintech PLC, Illuminate Financial, and existing shareholder J.P. Morgan.

 

WeMatch develops web-based solutions to replace voice broking by automating matching, negotiation, and lifecycle management for instruments such as securities borrowing and lending, total return swaps, interest rate derivatives, as well as equity derivatives.

WeMatch founders. Photo: WeMatch

 

WeMatch was founded in 2016 by a team of five, with dealing and brokerage backgrounds, and currently has 26 employees across offices in Tel Aviv, London, and Paris. So far, 40 banks and 17 fund managers have been onboarded, with a notional of over $1 trillion matched to date.

 

“The digitalization of workflows combined with seamless access to large liquidity pools at market infrastructure providers has been driving the collaboration between WeMatch and Deutsche Börse; hence, this investment makes perfect sense and further strengthens our partnership,” said Matthias Graulich, Member of the Eurex Clearing Executive Board at Deutsche Börse. “It is a win-win from our perspective – Deutsche Börse will benefit from WeMatch’s agility and innovation power, and WeMatch will benefit from our deep liquidity pools and strong global distribution power facilitating further growth for both firms.”

 

The Deutsche Börse Group is an international exchange organization and market infrastructure provider with business areas that extend along the entire value chain in exchange trading, including the admission, trading and clearing, and custody of securities and other financial instruments, the dissemination of market data, as well as the management of collateral and liquidity.

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“We are thrilled to have completed this Series B and to welcome DB1 Ventures, Illuminate Financial, and Augmentum Fintech PLC as new investors, in addition to receiving the continued support from our existing shareholders,” said Joseph Seroussi, WeMatch co-CEO. “The combination of the significant synergies with a leading European exchange like Deutsche Börse, the continued support of our banking partners J.P. Morgan and Société Générale, and the contribution of impactful Fintech VCs like Illuminate Financial and Augmentum, will help us deliver our project to digitize capital market workflows on a global scale for both sell-side and buy-side institutions.”