Til and Soros invested in the new Fintech startup TruMid

Almost everyone who is interested in IT, and even more so professionals in this industry are closely watching what the leading figures are doing. Each step, article, video, short tweet of each of them is meticulously tracked by tens of thousands of people daily.

This Tuesday it became known that venture capitalist Peter Thiel took part in a $ 27 million round of investment in the TruMid bond marketplace . It seems to be as usual. Til invested in many startups of the most diverse directions, but this news takes on an additional tinge of seriousness and importance when we learn that earlier this year the legendary financier George Soros invested in the site, and this addition, like no other, indicates the prospects of the startup.

TruMid was founded by Ronnie Mateo, a former inter-dealer broker Trinity Brokers and managing director of Salomon Brothers / Citibank. Also on the team is Ravi Singh from Global Alternative Investments, Mike Sobel from Barclays, Mike Martinic from Citadel Asset Management, and about a dozen more experienced financiers. Currently, 192 institutional clients are registered with the company and another 400 are expected to register.
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On Tuesday, Mike Sobel gave the NY Times several comments on this matter and spoke about the implementation of new ideas with the help of funds received.

What attracted a famous business angel to a typical Fintech startup? The trick is that the startup provides new technological tools to solve the problem of inefficiency when trading on the bond market, estimated at trillions of dollars lost. TruMid reorganizes the continuous process of submitting anonymous applications, collecting them into clusters or “swarms”, as they say in the company, which makes it possible to more effectively reduce buyers and sellers with the same interests. "Swarms" are collected in a 10-minute interval according to an algorithm similar to the blockchain.

The novelty of the approach lies in the fact that short intervals for trading focus liquidity in specific periods of time. Mike said that in the early stages of the market evolution and Trumid in particular, specific investments will provide a qualitative and quantitative analysis of feedback. With all this, developers are hoping for a "network effect" among users.

Agree that the company's product has all the attributes necessary for success? As history shows, if minds converge from IT and finance, decent ultrafast enrichment schemes are obtained, as was the case when the “quanta” of high-frequency trading were invented. Well, if Soros took over the case, everything suggests that amounts with a large number of zeros will be involved.