US-based fintech Cicada raised a $13.5M Series A led by Citigroup. L4, Kaszek, Dila Capital, and Crestone also participated in the round.
Cicada operates an electronic trading platform where institutional investors buy and sell local-currency bonds from Latin American markets, starting with Mexican government and corporate debt.
“We have created the first truly global and fully universal electronic market for the secondary trading of Mexican local-currency bonds, bringing institutional-grade capabilities to a market that has long needed them,” said Cicada’s co-founder and co-CEO, Javier Hernández.
Cicada will use the funds to expand commercial operations, increase liquidity on the platform, launch new products, and enter additional Latin American markets.
Read more on Statups Latam.