UK Fintech 9fin Secures $50M To Expand Operations

London FinTech 9fin has secured $50 million to expand its AI-powered analytics platform for debt capital markets.

Highland Europe led the Series B round, which included existing investors Spark Capital, Redalpine, Seedcamp, 500 Startups, and Ilavska Vuillermoz Capital. 

The latest funding will help 9fin to invest further in its market-leading AI technology, grow its analytics team, and accelerate its expansion in the US. The raise marked a milestone in 9fin’s journey, bringing total funding to nearly $90 million since its inception in 2016.

A Billion-Dollar Business

Co-founded by Huss El-Sheikh and Steven Hunter, 9fin was a response to the need for more quality data in the debt market. The Chief Executive, Steven Hunter, told the Financial Times he believes a data services company serving the debt market will soon generate $1bn in revenue annually.

“There’s at least a billion-dollar revenue business to be built in this space,” Hunter said, comparing 9fin’s potential to market leaders like Bloomberg and Morningstar.

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The startup employs 250 people, with its largest operations in London and Belfast. Since its Series A+ round in 2022, it has achieved 400% group-wide ARR growth, with its US business growing even faster.

Over this period, the London-based debt market intelligence startup has more than doubled its customer base to nearly 200 of the largest firms in global credit markets. This includes leading investment banks, distressed debt advisors, private equity, credit fund managers, and law firms. 

Hunter expects 9fin to achieve positive cash flow by 2025, driven by strong demand for its data and analysis tools, which target debt investors seeking high-yield and private credit opportunities.

Growing Operations with Strategic Support

The funding will enhance 9fin’s engineering and technology teams to serve its growing US client base better. 

Highland Europe’s co-founder, Fergal Mullen, will join the company’s board, reinforcing investor confidence in 9fin’s ability to scale.

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With key clients like KKR and Carlyle expressing interest during the funding process, 9fin is a serious contender in the credit data industry.

9fin enables subscribers to save time, win business, and outperform their peers with faster and easier access to critical credit information. The startup provides intelligence on high-yield bonds, leveraged loans, distressed debt, CLOs, private credit, and asset-backed finance. 

Like its direct competitors, including Reorg, Fitch, and Debtwire, 9fin employs journalists, lawyers, and financial analysts to break the news and analyze credit deals and market trends. The founders said 9fin was formed primarily as a technology firm to create better tools for collecting and processing vast market data.

The Fintech startup was the first information provider to integrate generative AI into its platform, providing agentic Q&A tools, real-time market updates, and advanced search capabilities.

Main image: Huss El-Sheikh and Steven Hunter, Co-founders of 9fin. Image Credit: 9fin