Israeli fintech company Capitolis has announced that it has completed a $90 million Series C financing round led by Andreesen Horowitz (16z), with participation from existing investors Index Ventures, Sequoia Capital, S Capital, Spark Capital, SVB Capital, Citi, J.P. Morgan and State Street. This latest financing round brings to $170 million the amount raised by Capitolis to date.
Capitolis was founded in 2017 by CEO Gil Mandelzis, Tom Glocer, chairman, and Igor Teleshevsky, VP Engineering. Mandelzis founded Sequoia-backed fintech company Traiana, which was acquired by ICAP for $247 million. Glocer is a former CEO of Thomson Reuters. Capitolis currently has 92 employees in New York City, London and Tel Aviv including 45 employees in Israel.
The company has developed a SaaS platform that drives financial resource optimization for capital markets.
Mandelzis said, "We launched Capitolis four years ago to fundamentally re-imagine how the capital markets operate. Just as Airbnb has brought more capacity to the lodging industry, Capitolis is bringing meaningful additional balance sheet, capital and financing capacity to the market that is structurally and meaningfully constrained to create healthier, more vibrant and growing financial markets. The market acceptance and adoption of our friendly disruptive solutions has exceeded our brightest hopes and we are thrilled to have this significant investment and support from the world’s top technology investors and leading financial institutions to grow and expand much faster."
Capitolis, which has a rapidly growing client base, intends to use the funds from this latest investment to drive further innovation in its technology and product development, bolster customer support and sales and grow its team from 90 employees to over 150 by year’s end.
Published by Globes, Israel business news - en.globes.co.il - on March 30, 2021
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