The financial data industry, valued at approximately $42 billion, plays a pivotal role in global capital markets. Yet, this market is dominated by a few legacy providers, whose outdated technology, high costs, and restrictive contracts fail to meet the needs of today’s dynamic fintech landscape. Nowhere is this more evident than in the over-the-counter (OTC) instruments market, including bonds and other complex securities. The opacity of these instruments and the challenges in collecting and analyzing their data have created a concentrated market where innovation is stifled, and customers are underserved.
Terrapin is redefining this landscape. By leveraging cutting-edge technology and proprietary data extraction methods, we provide high-quality OTC market data at competitive prices. Our approach is designed to empower fintech companies and financial institutions by offering transparent, accessible, and reliable data without the limitations imposed by legacy providers. Instead of operating as a “walled garden,” our solutions integrate seamlessly into existing workflows, fostering innovation and efficiency.
At Terrapin, our technology collects data from diverse sources such as prospectuses, regulatory filings, and pricing feeds, ensuring accuracy and depth. This scalable model allows us to serve both established players and smaller firms who have historically been priced out of accessing the data they need. Whether enabling better investment decisions, compliance processes, or product development, Terrapin’s goal is to remove barriers and unlock opportunities for growth in the financial sector.
Terrapin was born out of a personal frustration with the status quo. Our founders, experienced in machine learning and institutional fund management, originally sought to build a solution that depended on licensing data from established vendors. What they found instead was a system riddled with high costs, restrictive contracts, and poor service—barriers that hindered progress at every turn. Faced with these challenges, the founders decided to take matters into their own hands, pivoting to create a solution that could disrupt the market.
The early days of Terrapin were marked by relentless exploration of the inner workings of the industry and iterative design of the company’s solution. The team built a prototype capable of extracting, processing, and analyzing OTC market data, a task previously dominated by legacy providers with outdated systems. Despite the challenges, the prototype quickly gained traction, and Terrapin signed its first customer shortly after launching.
This early validation set the stage for growth. Terrapin expanded its offerings into new asset classes, including the U.S. municipal bond market, while continuing to refine its proprietary technology. Partnerships with established data vendors soon followed, allowing Terrapin’s technology to enhance their workflows and broaden its impact.
Terrapin’s journey reflects a commitment to solving industry challenges by offering practical, forward-thinking solutions. By providing financial institutions with accessible, high-quality data, they aim to simplify processes and reduce unnecessary limitations. Their mission is to contribute to a more efficient, transparent, and inclusive financial data ecosystem that supports the growth and innovation of modern capital markets.
