Products: Money Markets Borrowing and Lending Network; KYC and AML Solutions
Overview: Instimatch Global is a digital marketplace for trading cash deposits across multiple geographies, sectors and currencies, offering unparalleled market depth and breadth. Clients include banks, corporations, pension funds, asset managers, family offices, insurance companies and municipalities. The company’s digital network enables a global community of institutional borrowers and lenders to directly engage with each other and execute on their liquidity needs – within an easy to use platform.
The inspiration for developing such a platform stemmed from the liquidity crisis in 2007/2008. Instimatch founder, Hugh Macmillen, witnessed first-hand how the interbank lending and borrowing system broke down and trust between financial institutions disappeared within a matter of days. The idea behind Instimatch Global was to create a network where counterparties can access a diverse range of market participants in a smart, robust and efficient way.
Instimatch Global’s team brings together people with senior experience in wholesale financial markets and technology. CEO Daniel Sandmeier was a senior Credit Suisse executive, having also worked for UBS and Merrill Lynch. Founder and board member Hugh Macmillen held senior positions at various interdealer brokers including BGC Partners and ICAP. CTO Bobby Bhakar was at Société Générale prior to moving to BGC Partners, where he spent 13 years, before joining Instimatch in early 2019.
Instimatch won the Swiss Fintech Awards in March 2020 in the Best Growth Stage Startup category and was shortlisted for the second year in a row at the 2020 Financial News Trading and Technology Awards.
In February 2021 Instimatch announced its partnership with Fides Treasury Services, a multibank connectivity and communications specialist. The partnership enables Fides to offer access to money market liquidity using Instimatch’s platform directly through Fides’ Multibanking Suite portal.
Clients: Over 120 institutional clients including multinational corporations, banks, municipalities, family offices and pension funds – across 18 countries. 2020 has seen a significant upward shift in volumes, with trades totalling $25bn as of 30 September 2020.
Active region(s): Instimatch has offices in the UK, Switzerland and the Middle East with clients across 18 countries.
Employees: 15 employees in Zurich, London and Doha.
Ownership: Privately held by management and private investors.
Elevator pitch: “Instimatch Global is a provider of a state-of-the-art cash deposit network for banks, corporations, pension funds, insurance companies, asset managers, family offices, cities and municipalities, which empowers users to simplify deposit trading and save time for other treasury functions. Our digital network enables a global community of institutional borrowers and lenders to directly engage with their existing counterparties and make new valuable trading connections, all within our convenient and easy to operate ecosystem.”
Phone: +41 44 521 01 30
TMI view: This company is garnering attention, for the right reasons. The platform provides treasurers with a transparent environment in which to connect with a large number of counterparties, many of whom will be new to them, to help satisfy their liquidity needs. There are plans to expand into new geographies and to work with technology partners in the treasury space, and TMI will keep a close eye on these developments.
Partners: Fides Treasury Services
Verdict: One to watch