New York based bond trading platform, Trumid Financial raised $200 million in new funding, doubling its valuation to $1 billion. T. Rowe Price, BlackRock, TPG, and Dragoneer, are among investors. The total amount Trumid has received since inception amounts to about $400 million.
Trumid plans to use the funding to expand its products into emerging markets and new geographies like Asia. The company has made trading electronically easier and streamlined the existing workflows.