London-based data science startup Tradefeedr has raised $3 million to develop its trading analytics software that’s used by the likes of Goldman Sachs. The majority of the funding comes from IPGL, a fintech investment firm owned by entrepreneur Lord Michael Spencer. Seth Johnson, former CEO of NEX Markets, also backed the startup and will join as Chairman.
Tradefeedr’s API allows clients to query and analyse their foreign exchange (forex or FX) trading data from participating liquidity providers and ECNs. The result is more market transparency, and the goal is better decision making.
“There is a huge demand for greater transparency in financial markets and Tradefeedr can help meet that demand,” say co-founders Balraj Bassi and Alexei Jiltsov.
Before founding the startup in 2018, the two had previously worked together at Lehman Brothers and launched Blacktree, a macro systematic hedge fund.