NY-based Capitolis received $11 million in financing from Citi, J.P. Morgan and State Street.
Capitolis completed the $40 million Series B financing round in November 2019.
Capitolis will use the funds for technology and product development, sales and marketing.
Founded in 2017, the New York financial technology start-up Capitolis received $11 million in financing from Citi, J.P. Morgan and State Street. Capitolis is a Software-as-a-Service (SaaS) provider that provides a platform to optimize financial resources for the capital markets.
Great news! Capitolis has received a strategic investment from three of our trusted partners, @Citi, @jpmorgan and @StateStreet. Thanks to their continued support we are able to achieve tremendous growth and #innovation. Read more at https://t.co/AMQMmktN4m pic.twitter.com/IiEDzYdhsh
– @Capital City (@Capitolis_Inc) September 10, 2020
It is expected that Capitolis will use the funds in the coming periods for technology and product development as well as for improving sales and marketing initiatives. Capitolis has offices in New York, London and Tel Aviv. Since the launch of its software, Capitolis has expanded its client list to more than 50 financial institutions and many hedge funds and asset managers. And it has recorded a notional transaction volume of $1.5 trillion.
Capitolis has developed a proprietary platform that helps financial institutions improve liquidity in the markets by eliminating unnecessary positions and enabling banks to immediately raise the capital needed to trade with other most suitable financial institutions with larger balance sheets.
“We are proud to support Capitolis and its innovative approach to capital optimization and efficiency,” said Okan Pekin, global head of securities services at Citi. “We have found increasing numbers of supporters since the platform’s inception and believe that Capitolis’ unique approach will play a significant role in improving global markets by encouraging greater industry-wide collaboration to achieve higher growth.
Capitolis has not disclosed the valuation aspects. In early November 2019, Capitolis raised the $40 million for the Series B financing round led by Spark Capital and SVB Capital, along with the participation of existing investors Index Ventures, Sequoia Capital and S Capital. The financing was secured for the expansion of Capitolis’ platform and products.
Capital raising rounds of Capitolis…