Capitolis lands a16z-led $90M Series C for fintech SaaS platform
Capitolis, which makes technology for capital markets players such as investment and merchant banks, has closed on a $90 million Series C funding round led by Andreessen Horowitz (a16z).
The financing included participation from existing backers Index Ventures, Sequoia Capital, S Capital, Spark Capital, SVB Capital, Citi, J.P. Morgan and State Street and brings Capitolis’ total funding to date to $170 million. SVB Capital and Spark Capital co-led a $40 million Series B for the company in November 2019.
Capitolis CEO and founder Gil Mandelzis said the startup’s mission since its 2017 inception has been to “fundamentally re-imagine how the capital markets operate” after the last financial crisis and the “bold steps taken by regulators” in its aftermath.
The company says that its advanced workflow technology and proprietary algorithms allows banks, hedge funds and asset managers to eliminate, move or create trading positions by collaborating with other financial institutions. That results in freed up capital, open credit lines and access to capital from a bigger pool of sources, the company claims.
Ultimately, Capitolis’ network software is designed to help financial institutions optimize their balance sheets and reduce risk.
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