US fintech start-up MerQube lands $22m Series B funding
MerQube, a US-based fintech start-up developing technology for indexing and rules-based investing, has raised $22 million in Series B funding.
MerQube founders
The round was led by Intel Capital, with participation from new investor Allianz Life Ventures, and existing investors Citi, JP Morgan, Laurion Capital Management and UBS. In addition to the funding, Intel Capital’s investment director David Mueller will also join the MerQube board.
MerQube says the index-linked investments market, currently valued at $17 trillion, is set to grow to $30 trillion by 2027, accelerating the demand for technology that provides customisation, flexibility, scale and speed to market.
Launched in 2019 and based in San Francisco, MerQube operates a cloud-native Software-as-a-Service (SaaS) platform to offer design and calculation solutions for rules-based investment strategies and passive solutions, via API.
The company says its platform is able to process “extensive amounts of data from a vast array of sources, and deliver cost-effective, rapidly implemented solutions”.
“We believe the next wave of innovation in rules-based investing will be driven by customisation at scale to meet diverse investor requirements and drive cost efficiency,” says Sunil Kurkure, managing director at Intel Capital.
“MerQube’s technology puts it in a unique position to deliver the solutions this trend will require.”
With the new funding, MerQube plans to expand its engineering capabilities and platform infrastructure, hire talent, and continue expansion into its key markets. In May, the firm received authorisation from the UK’s Financial Conduct Authority (FCA) under Benchmarks Regulation.
