Business Wire | Mar 24, 2021 09:00AM EDT

CIBC Innovation Banking Provides MayStreet with $10 Million in Growth Financing

Mar. 24, 2021

NEW YORK & DENVER--(BUSINESS WIRE)--Mar. 24, 2021--CIBC Innovation Banking is pleased to announce a $10 million credit facility for New York-based MayStreet Inc. ("MayStreet"), 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.

About CIBC Innovation BankingCIBC Innovation Banking delivers strategic advice, cash management and funding to North American innovation companies at each stage of their business cycle, from start up to IPO and beyond. With offices in Atlanta, Austin, Chicago, Denver, Menlo Park, Montreal, New York, Reston, Toronto and Vancouver, the team has extensive experience and a strong, collaborative approach that extends across CIBC's commercial banking and capital markets businesses in the U.S. and Canada.

About MayStreetMayStreet's market data technology delivers the highest-quality, most complete 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. MayStreet's services include: Bellport Feed Handler Solution - real-time and historical market data processing; MayStreet Market Data Lake - multi-asset, global exchange data to fuel pre-trade, trading and post-trade analytics; and MayStreet Analytics Workbench - flexible, cloud-based toolkit for analyzing, querying and visualizing normalized market data. For more information, please visit www.maystreet.com.

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CONTACT: Katarina Milicevic, katarina.milicevic@cibc.com, 416-586-3609