TransFICC is a specialist provider of low-latency connectivity and workflow services for electronic trading. TransFICC's solution helps financial institutions connect to different electronic trading venues in the global Fixed Income market.
We have supported TransFICC from start-up - helping with various investment rounds and the negotiation of customer contracts with global banks and financial institutions. The classic issues scale-ups need help with – raising investment and generating revenue.
We have advised the business on all of its fundraising rounds. The company received seed investment from the Main Incubator (Commerzbank’s fintech incubator) and specialist fintech investor, Illuminate, as well as further investment by global banking giant Citibank.
In 2020, we advised on a Series A investment round, which ultimately closed at £5.75 million. This round saw ING Ventures and HSBC join the existing shareholders.
This was followed by a Series A extension of $17m in 2021, led by Albion Ventures and including all other previous investors.
The funding has enabled the ambitious company to double the size of their team and expand into new markets.
"Many thanks to Charles and team for your help with this deal. Your support with project managing the legal aspects for us was much appreciated and we look forward to working with you again." – Steve Toland, CEO & Founder, TransFICC
We have helped the company with some tricky customer contract negotiations. The majority of customers are international banks (e.g. Citibank and other global investment banks based in Germany, Australia, UK, Japan, Canada, Spain, USA) and all of the negotiations involved in-house legal and procurement in contract negotiations.
We have had to try and get TransFICC through these negotiations quickly and pragmatically - covering the risks but trying to get revenue into the business as soon as possible, which is essential for a young business.
“Contract negotiations can be challenging as our customers all have large legal and procurement teams that they throw at the contracts. There is not always an onus on speed from them. We just want contracts signed so we can issue invoices - but we know we have to push back in some areas.
RM have been brilliant at helping us get through these negotiations. Their focus is on getting the contract done as efficiently as possible - they know what to negotiate and what to let go - they don’t score points. They’ve taken the time to get to understand us and our business so they can make a lot of the decisions without bothering me. They’re like our in-house lawyers.”
Steve Toland, CEO & Founder, TransFICC
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