Axoni
Axoni, formerly known as TradeBlock, is a fintech company based in New York specializing in blockchain technology for financial institutions. It offers solutions like AxCore software and the Veris distributed ledger network for equity swaps.
History
Axoni, originally known as TradeBlock, was founded in 2013 and has established itself in the fintech industry. The company, headquartered in New York, NY, has grown to a team of 155 members. Axoni participated in Y Combinator's Winter 2014 batch and has been recognized as one of Y Combinator's Top Companies of 2022 as well as named to CB Insights Blockchain 50. Since its inception, Axoni has raised more than $110 million in funding from several prominent investors.
Services
Axoni offers core data infrastructure, application development, and automation tools catering to the financial sector. The company provides specialized solutions for market infrastructure, data platforms, and hosted solutions. These offerings are designed to support some of the largest financial institutions in the world, ensuring efficient management of financial data and transactions.
Investors and Funding
Axoni has attracted investment from a variety of notable firms including Andreessen Horowitz, Citi, CME Ventures, Coatue Management, Communitas Capital, Digital Currency Group, Data Collective, Deutsche Bank, EJF Ventures, FinTech Collective, F-Prime, Franklin Templeton Investments, Goldman Sachs, HSBC Holdings, Intel Capital, JP Morgan, Laurion Capital, LSEG, NYCA Partners, UBS, Wells Fargo, and Y Combinator. The company raised $31 million in February 2021 and announced a $20 million equity financing round in April 2023 led by EJF Ventures with Laurion Capital Management, Communitas Capital, and existing investors.
Products
Among its various products, Axoni’s AxCore software stands out as a crucial offering. The software is part of Axoni's suite designed to enhance data management and transaction processes for financial institutions. In June 2022, HSBC and UBS went live on Axoni's distributed ledger network for equity swaps, Veris. Additionally, BlackRock began using the same network for equity swaps in September 2021.
Industry Position
Axoni operates within the fintech industry, specifically focusing on banking and exchange. The company serves financial institutions in the United States and beyond, offering both remote and partly remote services. Axoni's efforts to overhaul global capital markets infrastructure have positioned it as a significant player within the fintech space.