Sharegain, a capital markets infrastructure Fintech, has raised $64 million in a Series B round that was led by WestCap and also joined by Citi, EJF Capital LLC and Optiver PSI. Participating existing investors reportedly include Maverick Ventures Israel, Blumberg Capital, SixThirty, Rhodium, and the Kessler family office.
This latest investment round, which is among the largest Series B to date in the securities lending sector, solidifies Sharegain’s position as an established capital markets infrastructure player and is a testament to the robustness of Sharegain’s tech, which has been adopted by global banks.
Consistent with its mission to democratize the $3 trillion securities lending sector, Sharegain has defined a new market category with its SLaaS (Securities Lending as a Service) solution. Sharegain has formed new rails and “removed the previous high barriers into the securities lending market, enabling online brokers, private banks, asset managers and custodians to benefit from an end-to-end offering and generate additional income on their assets that would otherwise sit idle.”
WestCap, which is known for its expertise in scaling enterprise Fintech platforms, and the additional investors are positioned to help Sharegain get to the next level, as a global player in securities lending. WestCap Partner Scott C. Ganeles will join the Sharegain board. Scott sits on the boards of Tradeweb and NYDIG, and is the former CEO of Ipreo, a global fintech servicing financial institutions.
Boaz Yaari, Founder and CEO of Sharegain, stated:
“We are thrilled that WestCap, Citi, EJF Capital LLC and Optiver PSI are joining our existing shareholders on our mission to democratize securities lending. We believe that lending your stocks, bonds and ETFs is a basic ownership right that should be made available to all. As private investor participation increases in capital markets, we are leveling the playing field so that private investors, through their brokers and banks, can benefit from income generating solutions that have been largely restricted to big financial institutions.”
Yaari added:
“We are humbled by this vote of confidence from such a strong group of investors. This partnership enables us to accelerate our global growth plans and scale, expand our offering faster and realize our vision of opening up securities lending to every investor worldwide.”
Scott C. Ganeles, Partner at WestCap, remarked:
“Securities lending is one of the last vestiges dominated by today’s leading financial services companies. Sharegain’s core value proposition is its ability to provide securities lending functionalities to every financial institution.”
Dan Fischer, Head of Investments, EMEA for WestCap, said:
“We see a major opportunity for Sharegain to improve access to a critical financial service, while benefiting both retail consumers and institutions. We look forward to forging a close partnership with Boaz and the team to support Sharegain’s global commercialization.”