Capitolis, an established software-as-a-service or SaaS platform that aims to promote financial resource “optimization” for capital markets, has revealed that it finalized a $90 million Series C funding round that was led by Andreessen Horowitz or a16z, a Silicon Valley VC firm that regularly backs transformational firms and innovative entrepreneurs “disrupting their industries with next-generation technology.”
As mentioned in a release, Capitolis’ investment round included participation from existing investors Index Ventures, Sequoia Capital, S Capital, Spark Capital, SVB Capital, Citi, J.P. Morgan and State Street. The Fintech firm has now secured $170 million in total funding (to date).
Gil Mandelzis, CEO and Co-founder at Capitolis, noted that they launched the platform 4 years back in order to “fundamentally re-imagine how the capital markets operate.”
Mandelzis added that just how Airbnb has managed to bring a lot more capacity to the lodging sector, 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.”
Mandelzis also mentioned:
“The market’s acceptance and adoption of our friendly disruptive solutions have 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.”
Alex Rampell, partner at a16z, noted that what really sets Capitolis apart from other financial services providers is “the sheer scale of management’s ambition and the substantial talent, technology and capital milestones they have achieved in bringing their innovative services to market.” Rampell added that they’re proud “to support Capitolis through this period of rapid growth.”
Capitolis—which aims to leverage “deep markets expertise with a Silicon Valley mindset”— intends to arm banks, fund managers and hedge funds with an innovative technology platform that “allows them to free up capital and safely remove barriers that would otherwise restrict growth.”
Tom Glocer, Co-Founder and Executive Chair at Capitolis, remarked:
“The market has spoken. Capitolis is building the financial system of the future. With advanced technology, a talented team, a focus on operational excellence and the continued support of our trusted partners, I look forward to our ongoing progress.”
Okan Pekin, Global Head of Securities at Citi said that at the company, they have “been impressed with Capitolis’ technology platform and their thoughtful, strategic approach to fostering a more efficient marketplace.” Pekin also mentioned that they “feel the opportunity in front of them is significant and there is a long runway for growth.”
Capitolis, which has a fast-growing customer base, plans to use the capital acquired from this recent 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,” the release stated.