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CIBC Innovation Banking Provides MayStreet $10MM in Growth Financing

March 25, 2021, 08:05 AM
Filed Under: Technology

CIBC Innovation Banking provided a $10 million credit facility for New York-based MayStreet Inc., an industry-leading market data technology and content provider. The credit facility is available to help the rapidly growing fintech firm further scale its business.  

Founded in 2012, MayStreet offers market data technology that delivers high-quality global market data to enable data-driven decision-making. Combining ultra-low latency software with consolidated, top-of-book and full depth-of-book data, MayStreet empowers its clients – including the sell side, buy side, vendors, regulators and academics – to gain deeper insights to drive investing, trading, execution analytics and compliance.

“Ultra-high-quality data is critical in powering the most innovative technologies being developed on Wall Street and beyond, and MayStreet is at the forefront for market data with its end-to-end platform,” said Kevin Grossman, Managing Director in CIBC Innovation Banking’s Denver office. “The firm’s business is growing rapidly, and our team is pleased to support their continued expansion.”

“We believe we have a significant opportunity to help capital markets participants further their digital transformation efforts by most effectively and efficiently making use of the vast amounts of data available today,” said Patrick Flannery, MayStreet’s CEO & Co-Founder. “The CIBC Innovation Banking team shares our vision, and we are pleased that they stand ready to help accelerate our growth plans should the need arise.”

MayStreet’s existing equity investors include Credit Suisse Asset Management’s NEXT Investors.

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