Cicada Raises $13.5M in Series A Funding

Cicada is expanding electronic trading in bond markets that still rely heavily on voice execution. Citi leads its Series A as the platform recruits liquidity providers and prepares additional markets and products.

Round size
$13.5M
Stage
Series A
Headquarters
United States
Announced
Feb 25, 2026

Connecting buyers and sellers

The marketplace gives institutions an order book, quote-request workflows and spread-trading tools for secondary bond transactions. Its strategic equity program is intended to align participating market makers with growth in trading liquidity.

Expanding the venue

The capital will support commercial activity, integrations with global trading platforms, and regulatory and risk infrastructure. The company also plans a Mexican interest-rate swap venue; that product is in development.

Where the funding goes

  • Expand commercial activity and liquidity
  • Add products, markets and trading-platform integrations
  • Invest in regulatory, compliance and risk infrastructure

Sources

  1. Cicada: funding announcement
  2. LatamList financing coverage
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