Capitolis, a fintech company focused on innovating global capital markets, completed its Series B funding round of $40m.
The round, which brought total capital raised to date to $70m, was led by Spark Capital and SVB Capital with participation from existing investors Index Ventures, Sequoia Capital and S Capital. In conjunction with the funding, Jeremy Philips joined the Board on behalf of Spark Capital.
The company intends to use the funds for the expansion of its technology platform, functionality and product offering.
Founded by industry fintech veterans Gil Mandelzis, Tom Glocer and Igor Teleshevsky, Capitolis provides a live tech platform through which financial institutions are
able to collaborate, reduce capital utilization, and find the attractive sources of capital.
The business now has a range of products available to its customers, including;
– Novations, a platform that allows users to optimize their positions, view and change their desired parameters and execute resulting optimizations,
– Marketplace, which provides clients real-time capability to find through technology the cheapest and most appropriate partner to hold positions executed elsewhere.
– Finance, which helps institutions create new positions to facilitate significant balance sheet efficiencies, while simultaneously providing access to new short-term
positions that investors can use for effective cash management, leveraging state of the art workflow technology.
Over 50 financial institutions are currently live on its technology platform generating recorded transaction volumes of $1.5 trillion notional since inception.
The company employs a team of 55 employees across offices in New York, London and Tel Aviv.