Capitolis, a SaaS platform technology provider for capital markets, has secured investment from Citi, JP Morgan and State Street.
The company said that the funding indicates a joint effort by the three global financial institutions to drive further adoption of its technology platform,
The platform is designed to help financial institutions free up capital and remove hurdles that restrict trading.
Citi securities services global head Okan Pekin said: “We are proud to support Capitolis and its innovative approach to capital optimization and efficiency.
“We have been growing supporters of the platform since its inception and believe Capitolis’ unique approach will play a significant role in enhancing global markets by driving increased industrywide collaboration to achieve higher growth.”
Capitolis will use the investment to strengthen its technology and product development
The new investment follows a $40m Series B funding round led by Spark Capital and SVB Capital, in November 2019. Existing investors Index Ventures, Sequoia Capital and S Capital also participated in the financing round.
Capitolis intends to use the proceeds to further advance its technology and product development, along with expansion of sales and marketing initiatives in the coming months.
Established in 2017, Capitolis provides a network software that enables financial institutions to optimise balance sheets.
The company claimed that more than 50 financial institutions along with hedge funds and asset managers around the world leverage its technology to improve their services.
Capitolis CEO and founder Gil Mandelzis said: “We are excited to have three of our trusted partners provide further support for our vision and business model focused on transforming the marketplace for the benefit of all participants.
“While we have made great strides over the past three years since starting the company, it is only the beginning of our work in creating a new industry standard through collaboration, innovation and technology. There is much more transformation yet to come.”
