Congrats to portfolio company Axoni on it's $32m Series B! Axoni is on a mission to bring enterprise blockchain to scale in the traditional capital markets. Axoni has been selected by infrastructure providers (DTCC, ICAP) as the partner of choice for asset classes like credit derivatives and FX. Axoni has also been selected by large broker-dealers for OTC traded assets like equity derivatives.
As part of the Series B, Schvey, 31, and his co-founder brother, Jeff, 33, plan to substantially increase the number of employees from 55, mostly via new engineering hires. In addition to the new employees, Schvey says the firm that was founded in 2016 plans to further invest the funds to help existing clients integrate their own users into three platforms nearing completion. While Schvey refrained from revealing too many new details about those integrations, part of the investment includes Goldman Sachs managing director, Ashwin Gupta and Wells Fargo’s head of market structure and electronic trading services, C. Thomas Richardson, taking a seat on Axoni’s board of directors. The pair join existing board members, Michael McFadgen of NEX Group, and Joe Ratterman, the former CEO of Bats Global Markets, now Cboe.