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.
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.
Its Business Operations Centre delivers exception aggregation services, while its Global Exception Network facilitates collaboration between parties.