Moment raises $36M Series B led by Index Ventures to modernize fixed income trading infrastructure, lands LPL Financial partnership

Summary

Moment, a fixed income trading software company, has closed a $36 million Series B led by Yan Hammer at Index Ventures. The round coincides with a partnership announcement with LPL Financial, the largest broker-dealer in the United States, marking a significant move upmarket from Moment's fintech-first origins.

The company was founded by Dylan Parker and co-founders Dean and Ammer, all veterans of Citadel Securities, where Parker and Dean worked on the firm's automated market-making desk for corporate bonds. That experience, built under Anishh Kerat, recruited from Jane Street, shaped Moment's core thesis: that fixed income was undergoing an electronic trading revolution but lacked the underlying operating system to support it.

Moment's platform covers order execution with smart order routing, portfolio optimization, and risk and compliance enforcement for bond traders and portfolio managers. Early clients included fintechs Webull and Public.com, which used Moment's infrastructure to offer bond investing in $100 increments. The LPL partnership shifts the company into handling what Parker describes as hundreds of billions of dollars in trading flow.

The scale challenge is structural. The fixed income market is roughly 50% larger than global equities by value, yet contains 4 million bonds versus approximately 4,000 listed US equities. Liquidity is heavily concentrated in around 500 US Treasuries, while the vast majority of the market by instrument count includes corporate and municipal bonds that may not have traded in two or ten years. Pricing and portfolio optimization around illiquid instruments is a core technical problem Moment is built to solve.

Moment operates on the buy side and routes orders to sell-side liquidity providers including Citadel Securities and Jane Street, meaning there is no direct competitive conflict with its founders' former employer. The $36 million will fund expansion across trading, portfolio management, and risk and compliance products to serve large institutional clients. The company is currently hiring across quantitative research, engineering, go-to-market, marketing, and operations.

On tokenization of real-world assets, Parker is measured. Fixed income is still transitioning from phone-based trading to electronic platforms, and he views tokenization as a longer-horizon opportunity rather than a near-term product priority.