OpenYield—an operator of the FINRA and SEC-registered OpenYield ATS—announced that it has closed a new funding round to continue its mission to modernize the bond market. This most recent funding round was led by Canapi Ventures, with additional support from Clocktower Ventures and Flow Traders. It supplements earlier fundraising efforts from Fin Capital and TD Bank, bringing OpenYield’s total funding to date to $7 million.
Since the launching of its marketplace in March 2024, OpenYield has onboarded over 20 institutional subscribers, including FMSBonds, Belle Haven Investments and Maritime Capital, who join previously announced partners Flow Traders, TD Securities Automated Trading and Apex Fintech Solutions Inc. This marketplace now displays offers in tens of thousands of bonds across munis, corporates, and Treasurys, with more added regularly.
KEY QUOTES:
“We are thankful to all participants involved in our capital raise. This funding will propel us in our mission to transform how brokerages, advisors and asset managers access the bond market.”
“Our team is focused on advancing the industry. Looking ahead, OpenYield is excited to welcome new participants to leverage our real-time liquidity and modernize the investment process within the global $100+ trillion fixed income asset class.”
– Jon Birnbaum, Founder & CEO of OpenYield
“We are thrilled to support OpenYield on its journey to transform the bond markets. By revolutionizing outdated bond trading technology with a combination of automated liquidity, easy integration, favorable economics and familiar market structures that serve all participants, OpenYield is fundamentally reshaping how the market engages with this asset class. Wealth management is a major priority for most banks today and it’s only a matter of time until OpenYield enables them to efficiently trade in and out of fixed income securities on behalf of retail customer accounts. We are proud to back a team that is driving such meaningful change.”
– Jeffrey Reitman, General Partner at Canapi Ventures
