Spreadsheets and emails, be gone. Fintech startup Capitolis wants to help brokers, banks and asset managers reduce time spent on manual processes.
Capitolis’ platform connects buyers and sellers in capital markets — like equities or foreign exchange — to streamline trading and free up the capital that’s required as collateral during trades. It helps big banking clients find the best financial institutions to process transactions, and it assists with transferring assets in a process called novation.
The company announced Tuesday it raised $40 million in Series B funding. The new money will go toward enhancing Capitolis’s technology and expanding its sales and marketing teams, CEO Gil Mandelzis told Calcalist.
Capitolis was founded in 2017 by former Thomson Reuters CEO Tom Glocer and former NEX Markets CEO and Traiana founder Mandelzis. It has raised $70 million to date and employs 55 among its New York City, London and Tel Aviv offices.
The Series B round was led by Spark Capital and Silicon Valley Bank Capital. Existing investors Index Ventures, Sequoia Capital and S Capital also participated.
