IEX, a stock-trading startup based in New York, has raised $75 million in a Series C round led by Spark Capital with participation from Bain Capital Ventures,MassMutual Ventures, and investment manager Franklin Resources.
IEX provides an alternative trading system for mutual fund managers similar to a stock exchange but with less regulatory burdens and unable to offer corporate listings.
Opened last year, IEX has raised just over $100 million to date and will use the new funding to become a registered U.S. stock exchange and explore new opportunities
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