RQD Raises $74M for Broker Infrastructure
RQD Clearing raised $74M to expand cloud-native clearing and custody infrastructure for financial institutions.
Some of the most important fintech startups work on plumbing that end users never see.
What happened
RQD Clearing raised $74M in growth financing led by Bain Capital Tech Opportunities, with participation from ABN AMRO Clearing Bank and Nyca.
The company provides cloud-native clearing and custody infrastructure for broker-dealers, RIAs and financial institutions. Its platform is designed to modernise back-office workflows that support trading, settlement and account infrastructure.
Why it matters
Clearing and custody are unglamorous, but they are critical layers of capital markets. Many institutions still rely on legacy systems, fragmented processes and slow operational workflows.
RQD’s financing shows continued investor appetite for infrastructure fintech that can upgrade core market plumbing rather than simply building another consumer trading app.
The bigger picture
Fintech infrastructure is becoming more specialised. The best opportunities often sit inside regulated workflows where switching costs are high, reliability matters and modern APIs can replace decades-old systems.