# OpenYield

> OpenYield is a New York-based fintech operating an automated, all-to-all bond marketplace that brings an equity-like trading experience to fixed income. A FINRA-registered broker-dealer and SEC-registered alternative trading system (ATS), it offers firm, executable quotes with no minimum trade sizes across corporate bonds, municipal bonds and U.S. Treasurys, connected to brokerages, advisors, asset managers and market makers through API-first infrastructure.

- **Founded:** 2023
- **Headquarters:** New York, United States
- **Founders:** Jonathan Birnbaum (Founder & CEO)
- **Team size:** ~8 employees
- **Products:** Automated Bond Marketplace, API & Connectivity, Market Data Services
- **Notable:** Registered as a broker-dealer with the SEC, FINRA and MSRB in Q4 2023, Printed its first trade on March 28, 2024, Surpassed 10,000 trades within roughly its first year of operation

## Products & services

- **Automated Bond Marketplace** — An all-to-all alternative trading system (ATS) offering 100% firm, executable quotes with no minimum trade sizes across corporate bonds, municipal bonds and U.S. Treasurys, matched through a transparent order book.
- **API & Connectivity** — API-first integration that lets brokerages, advisors, asset managers and market makers automate bond trading and plug OpenYield liquidity into existing workflows.
- **Market Data Services** — Data and pricing services delivering transparent bond market information to participants and data partners.

## Achievements

- Registered as a broker-dealer with the SEC, FINRA and MSRB in Q4 2023
- Printed its first trade on March 28, 2024
- Surpassed 10,000 trades within roughly its first year of operation
- Reached nearly $2 billion in cumulative trading volume across corporates, munis and Treasurys
- Onboarded 60+ institutional firms representing over $5 trillion in AUM
- Landed LeveL Markets (backed by Nasdaq, BlackRock, Citi, BofA) as strategic investor and distribution partner in 2026

## Latest updates

- **2026-06** — Closed $6M+ Series A led by LeveL Markets, with Draper Associates, Canapi Ventures and Clocktower Ventures; LeveL becomes a distribution partner integrating OpenYield into its equities platform.
- **2025** — Surpassed 10,000 trades as institutional adoption accelerated, reaching nearly $2 billion in cumulative volume.
- **2024-11** — Raised funding bringing total to $7M, led by Canapi Ventures with Clocktower Ventures and Flow Traders.
- **2024-03** — Launched fully automated, equity-like bond marketplace and printed its first trade.

## Links

- Website: https://openyld.com
- LinkedIn: https://www.linkedin.com/company/openyield

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Profile page: https://yespress.io/openyield
Published by YesPress — https://yespress.io
Last updated: 2026-07-18