News

Xignite Closes $20M Series C Funding Round Led by QUICK Corp

Xignite

Quick Corporation JapanXignite, the leading provider of market data cloud solutions for financial institutions and financial technology companies, today announced that it has raised $20.5 million in a Series C funding round led by Tokyo-based QUICK Corporation, part of the Nikkei  Group and Japan’s largest financial information provider. StarVest Partners, Altos Ventures, and Startup Capital Ventures, Xignite’s current investors, also participated. This new round brings Xignite’s total funding to $37 million.

Nikkei Group JapanIn connection with the capital raise, Xignite and QUICK will be partnering to deliver Xignite’s cloud-based data solutions in the Asian market as well as QUICK’s proprietary financial data and information through Xignite’s market leading APIs. Xignite brings an elastic cloud infrastructure solution that is easy to use, multi-tenant, built on open standards and scalable with zero footprint to clients. QUICK is the first and leading financial information provider in Japan with a strong reputation and brand in Asia and a member of the Nikkei  group.

Xignite will use the funds to further scale its sales and marketing efforts and expand its product capabilities in order to fuel the company’s continued global growth. Together with QUICK, Xignite will continue to accelerate the growth and disruption created by financial technology innovations in the Asian market and elsewhere around the world.

Xignite powers many of the world’s most innovative fintech leaders, including Betterment, Currency Cloud, SoFi, Jimubox and 8 Securities. Xignite’s 1000+ customers are revolutionizing the financial services industry, disrupting key markets such as trading, wealth management, payments, and financial research and analysis. Over the past year, Xignite has experienced explosive growth, growing bookings by over 50 percent and serving more than 455 billion data requests from its APIs, with demand doubling every 6 months.

“The fintech revolution has only just begun and will sweep all aspects of the financial services industry in the coming years”, said Stephane Dubois, CEO and founder of Xignite. “Financial institutions can no longer afford to operate rigid and proprietary data infrastructures. Fintech innovators continue to put pressure on more traditional financial services companies. These legacy institutions must innovate and simultaneously cut costs if they want to survive and thrive in this new paradigm. This includes the complex, burdensome and costly consumption of financial data. We are excited to have QUICK’s backing and shared vision of an advanced, global market data cloud infrastructure.”

“Asia is the world’s largest fintech frontier and the region is experiencing hyper-growth,” said Noboru Yoshioka, QUICK’s President and CEO. “We are very pleased to announce that QUICK has partnered with Xignite, one of the most innovative fintech companies in the financial services industry. By combining our experience and leading position in Asia with Xignite’s technology and innovation, we have a unique opportunity to capture the growth in this market.”

Atsuyuki Nakajima, QUICK Managing Director, will be joining Xignite’s Board of Directors. Mr Nakajima currently leads QUICK’s Global and Strategic Business Development activities. As a 35+ year QUICK veteran, he brings invaluable knowledge and experience of the Asian market and financial market data to the Xignite board.

Marlin & Associates acted as exclusive strategic and financial advisor to Xignite in connection with the transaction. Jonathan Kaufman, Senior Managing Director at Marlin, said, “We are extremely pleased to have played a role in this exciting transaction, a significant event in the market data industry. Stephane Dubois has built an impressive and innovative company that has helped fuel the growth and innovation in the financial technology industry. We wish Xignite and QUICK the best of luck in their partnership.”

ABOUT XIGNITE

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Named to the Forbes Fintech 50 List, Xignite, Inc. provides cloud-based financial market data APIs to help emerging companies and established enterprises deliver real-time and reference market data to their digital assets, such as websites and mobile apps. Xignite’s clients include more than 1,000 financial services, media and software companies from disruptive fintech firms, such as Betterment, FutureAdvisor, Motif Investing, Personal Capital, Robinhood, StockTwits, Wealthfront and Yodlee, to leading financial institutions, exchanges and market data vendors. For more information, visit http://www.xignite.com or follow on Twitter @xignite.

ABOUT QUICK

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As a financial information vendor in the Nikkei Group, QUICK distributes real-time global securities and financial information as well as political and economic information. It provides comprehensive solutions to the securities and financial market with services for supporting asset management, order routing and execution and network construction and maintenance.

ABOUT NIKKEI

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Nikkei Inc. is one of the largest business media groups in Asia. Established in 1876 and upholding its corporate creed of being “fair and impartial”, Nikkei has consistently provided high-quality reporting on business, economic and international affairs. Group operations range from books and magazine to digital media, database services, broadcasting, economic/cultural events and other activities. After Nikkei’s purchase of the Financial Times Group,  two business media brands span all corners of the world with unrivalled reach and indispensable news, comment and analysis.

PRESS CONTACT:

Cognito
Lauren Pozmanter
+1 646 395 6300
xignite@cognitomedia.com

RECENT NEWS

Each year, Bobsguide asks the market to vote for fintech companies they believe stand out from the competition – those who have gone the extra mile in terms of development and servicing their clients. Xignite is proud to be listed as the "Best API Management" vendor on the Bobsguide 2020 Rankings.


Read article on Bobsguide

01/26/2021

Web services data provider Xignite captured the AFTAs judges’ attention on the infrastructure front with its release of Xignite Enterprise Microservices in July 2020, a suite of cloud-based microservices for data management, storage and distribution in the cloud, designed to help financial firms migrate from monolithic legacy data architectures to more agile and less expensive cloud services and data sources.

Requires subscription to read the article on WatersTechnology

01/25/2021

Xignite, Inc., a provider of market data distribution and management solutions for financial services and technology companies, today revealed the results of its collaboration with StockCharts, a leading technical analysis and financial charting platform for online retail investors. The collaboration involved a move from an on-premise market data provider to Xignite’s cloud-native technology hosted in Amazon Web Services (AWS). Download the case study containing the full results.

StockCharts requires vast quantities of financial data to power its visualization, charting and tracking tools, which investors use to analyze the markets to help with investment decisions. The company was frustrated by the limits of its on-premise market data center, which was forcing the team to make architectural decisions based on what its data center could handle in terms of speed and storage, not on their technology. Its previous market data provider was just starting to build out some cloud offerings, but they were far away from what the business required. StockCharts decided to migrate its infrastructure to the AWS cloud and partner with Xignite to gain access to endlessly scalable market and financial data delivered through innovative cloud APIs.

The collaboration made an immediate impact as StockCharts was able to expand its offerings and customer base by pursuing growth strategies enabled by Xignite’s cloud-based approach, which provides easy access to data and eliminates architectural limits on storage and speed.

The pandemic provided further validation. Seattle-based StockCharts was in one of the first areas hit by COVID-19 and was forced to quickly shut down its office. Pandemic-driven market volatility followed and StockCharts customers wanted to visualize what was happening. The company’s ability to scale quickly and accommodate a high volume of new requests would not have been possible without Xignite.

“The move to the AWS cloud and Xignite has unlocked tremendous new potential for us in a lot of architectural ways, and has given us a lot of data options that we could not even consider before,” said Grayson Roze, Vice President of Operations at StockCharts. “It relieved us of the burden of figuring out how to source things. Instead, we know exactly where we need to go to get the data and can access it instantly. That is a huge, huge benefit for our business.”

“We are proud to have played a role in transforming how StockCharts approaches data,” said Stephane Dubois, CEO and Founder of Xignite. “The events of this year unleashed a massive spike in retail trading and a host of other unexpected forces that reinforced the need for financial services firms to leverage the cloud. Despite the disruption of this year, StockCharts was positioned for success, and we look forward to continuing to deliver our financial and market data solutions to the industry at large.”

Xignite

Xignite has been disrupting the financial and market data industry from its Silicon Valley headquarters since 2006 when it introduced the first commercial REST API. Since then, Xignite has been continually refining its technology to help fintech and financial institutions get the most value from their data. Today, more than 700 clients access over 500 cloud-native APIs and leverage a suite of specialized microservices-delivered modules to build efficient and cost-effective enterprise data management solutions. Visit http://www.xignite.com or follow on Twitter @xignite

01/12/2021

Xignite, Inc., a provider of cloud-based market data distribution and management solutions for financial services and technology companies, today announced that its Market Data Management-as-a-Service solution has been named “Best New Technology Introduced over the last 12 months – Infrastructure” at the 2020 WatersTechnology American Financial Technology Awards (AFTAs). Selected by the editors of WatersTechnology, the AFTAs recognize excellence in the deployment and management of financial technology within the asset management and investment banking communities.

Xignite’s Market Data Management-as-a-Service (MDMaaS) solution enables buy- and sell-side firms to centralize the management of vendor data feeds into their own cloud environment. The solution is built around the cloud microservice-based architecture and technology stack Xignite has been refining and scaling for more than 10 years. Xignite’s technology platform has been the backbone of the company’s Data-as-a-Service business, daily supporting 12 billion API requests of financial data for their 700 fintech and financial services clients. Now Xignite is leveraging this battle-tested cloud-native data management architecture to offer buy- and sell-side firms a market data vendor agnostic offering, with connectors available for firms to load data they license from Bloomberg, Refinitiv, ICE and numerous other providers.

The MDMaaS solution includes a suite of loosely-coupled modules that enable market data user firms to control their data usage, automate entitlements, optimize their data spend and minimize liabilities by simplifying data governance and ensuring regulatory compliance.

The functionality is delivered via microservices, an architectural approach in which core functionality is handled by loosely coupled, independently deployable modules that can work together or separately. Microservices architecture stands in stark contrast with monolithic platforms that require expensive on-premise technology – that is especially hard to maintain in the context of a pandemic.

The MDMaaS microservice-delivered modules introduced in 2020 include:

Xignite Entitlements and Usage - Manage the entitlement of vendor data to users and applications to ensure compliance and eliminate excess spend.

Xignite Optimization - Streamline data consumption to avoid duplicated vendor requests, leverage cached bulk data and get recommendations to reduce data costs.

Xignite Data Lake - Centralize, catalog and connect data shapes to enable frictionless integration by consumers via unified cloud APIs.

Xignite Reference - Aggregate, normalize, store and index vendor reference data to centralize enterprise-wide access.

Xignite Historical - Provide centralized access to normalized, stitched and adjusted historical data via cloud APIs.

Xignite Real-Time - Distribute real-time vendor data via cloud APIs, eliminating on-premise infrastructure.

Xignite Fundamentals - Make simple and complex time-series data structures available via cloud APIs.

“Xignite has pioneered market data in the cloud for more than 10 years now, so we are very excited to announce – and be recognized for – our Market Data Management-as-a-Service solution,” said Stephane Dubois, CEO, and founder of Xignite. “The pandemic has reinforced the need for financial services firms to migrate to the cloud as a means of navigating disruption and enabling scalability, among other benefits. We are proud to spearhead that effort and help the industry modernize its approach to financial and market data.”

About Xignite

Xignite has been disrupting the financial and market data industry from its Silicon Valley headquarters since 2006 when it introduced the first commercial REST API. Since then, Xignite has been continually refining its technology to help fintech and financial institutions get the most value from their data via its Data-as-a-Service and Market Data Management-as-a-Service solutions. Today, more than 700 clients access over 500 cloud-native APIs and leverage a suite of specialized microservices to build efficient and cost-effective enterprise data management solutions. Visit http://www.xignite.com or follow on Twitter @xignite

01/06/2021