KOR Financial Closes Series A Funding and Hires LSEG and Adenza Execs for Key Business Roles

KOR’s innovative Reporting-as-a-Service platform is gaining momentum ahead of the critical CFTC data exchange data reporting compliance deadline fast approaching.

ATLANTE, June 9, 2022 /PRNewswire/ — KOR, the innovative provider of regulatory solutions for the derivatives market, has closed its Series A investment round led by Mosaik Partners, a San FranciscoFintech-focused venture capital firm. The funds will be used to accelerate the deployment of KOR’s CFTC-registered Swap Data Repository (“SDR”) in U.S. markets while enabling the start of global expansion efforts.

KOR’s 100% AWS cloud-based central repository platform enables participants to benefit from innovations in sub-second actionable analytics on submitted data, on-demand reporting on historical comprehensive information and system models to improve compliance processes and increase operational efficiency. The timing of market entry occurs as the industry seeks outsourcing solutions for common industry challenges and requirements, as well as new challenges such as data accuracy and completeness check.

KOR was licensed by the CFTC on March 31, 2022, for its Swap Data Repository in all asset classes and for all client segments. It was the first such approval granted by the CFTC since 2014, the first 100% cloud-based SDR, and came eight months before a December 2022 critical compliance time in the United States

Along with the funding, KOR is pleased to announce two key additions to the leadership team, Tom Wieczorek, as KOR’s new Head of Product and John Buchenal as KOR’s new Director of Partnerships and Industry Relations. Wieczorek is a former Chief Product Officer of the London Stock Exchange Group’s regulatory reporting and post-trade operations platform. Buchenal brings 25 years of finance and fintech experience, with previous roles at Adenza, Omgeo, Traiana and Tradeweb.

Howard Mergelkamp, co-founder and managing partner of Mosaik Partners, will join KOR’s advisory board as part of the funding round. “We are thrilled to partner with KOR as the management team’s experience and expertise in this area is unparalleled. KOR is modernizing business reporting through a SaaS cloud-based delivery business model, providing value-added analytics that will improve customer data and dramatically reduce time-consuming, inefficient and costly manual processes that are the current industry standard,” said Mergelkamp.

KOR is currently on track to meet its summer production target. With this round of funding, KOR Founder and CEO, Jonathan Thursby, envisions accelerated growth for KOR. “We are set to move our Reporting-as-a-Service (all-in-one) platform from external testing to production this summer, supporting CFTC exchange data reporting .”


KOR Financial, based in the United States, is a financial technology company that develops future-oriented technological innovations specifically designed for the derivatives markets. KOR is CFTC licensed and the first independent Swap Data Repository (“SDR”), offering solutions that enable market participants to meet reporting mandates for OTC derivatives transactions and lifecycle events. KOR provides a Reporting-as-a-Service (RaaS) offering to complement its SDR, which together replace many common reporting functions and solve many systemic reporting issues. The KOR team includes former trade repository managers, SMEs and technology pioneers, creating the first intelligent transactional derivatives platform.


Founded by industry operating executives in 2011, Mosaik Partners invests in early-stage B2B fintech companies that address pain points in commerce and financial services. Mosaik actively leverages its operating experience to provide promising entrepreneurs with the resources and know-how they need to succeed. The company has made investments in the areas of payments, software, capital markets technology, regulatory technology and AI/big data. Situated at San Francisco, the team has over 80 years of operating and investing experience in the fintech industry. More information can be found at www.mosaikpartners.com.

For more information, visit the KOR website and follow KOR on LinkedIn and Twitter

Media Contact:
Meggie Machado
[email protected]

SOURCE KOR Financial

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