Capital markets software house Capitolis has raised a $110 million Series D at a $1.6 billion valuation.
Founded by Gil Mandelzis, ex-Traiana, and Icap, Tom Glocer, ex-CEO of Thomson Reuters, and Igor Teleshevksy, formerly Traiana, Capitolis is designing multiple new products and services to address capital markets constraints on under-utilised capital, initially in equities and foreign exchange.
Says Madelzis: “Over the past two years, our vision to reinvent capital markets has gained tremendous momentum as we have tripled our revenue, customer base and team.".
The fundraise is co-led by top fintech investors Canapi Ventures, 9Yards Capital (the VC co-founded by former UK chancellor George Osborne), and SVB Capital. Existing investors in Capitolis include a16z, Index Ventures, Sequoia Capital, S Capital, Spark Capital, Citi, State Street and JPMorgan. To date, the firm has raised $280 million.
The UK's former chancellor will join the board of Capitolis as part of the capital commitment.
Says Osborne: “At 9Yards Capital we’re impressed by Capitolis and the innovation it is bringing to the task of making our financial system more secure and our capital markets more efficient.”
Other fintech companies in the 9Yards portfolio include, Robinhood, Toast, Carta, Chainalysis, Remote, Gusto, TaxBit, Emerge and Deliverr.