Exclusive: Capital raising startup HUBX completes $5.5m fundraising
Private capital raising platform HUBX has completed a $5.5m (£4.2m) fundraising round after a surge in demand during the pandemic.
Founded in 2015 the London-based B2B platform claims to democratise capital raising by using automation and data to help organisations execute its transactions faster.
The platform works with startups as well as more established sell-side and buy-side institutions like banks, brokers and exchanges to support capital raising, private placement and deal syndication activities.
“There’s tremendous potential in helping organisations digitise their private capital raising and distribution activities, with current conditions accelerating the trend towards the digitisation of all transactions end-to-end,” said co-founder Axel Coustere.
The $5.5m financing round, its second tranche of fundraising, was led by European venture fund Basinghall Partners, alongside investment from Barclays, ELITE and individual investors.
“We are excited to welcome Basinghall Partners into HUBX alongside Barclays and ELITE,” co-founder Stephen Ong added. “This latest capital raise will support the acceleration of our product roadmap, grow the team and scale up our marketing and distribution capability.”
HUBX enjoyed a surge in demand for its platform during the pandemic as organisations sought out new ways to cut costs and reduce risks.
Companies furiously raised capital during 2020 through follow-on fundraising, as they scrambled for cash amid the pandemic.
Andrew Irvine from Basinghall Partners added: “We are pleased to add HUBX to our portfolio and look forward to providing our network and knowledge base to further enable the HUBX opportunity. Simplifying and connecting private capital markets with the latest technology is an exciting and topical prospect.”