LONDON–(BUSINESS WIRE)–February 15, 2022–
Sharegain, a leading capital markets infrastructure fintech, today announced it has raised $64 million in a Series B funding round led by WestCap and joined by Citi, EJF Capital LLC and Optiver PSI. Existing participating investors include Maverick Ventures Israel, Blumberg Capital, SixThirty, Rhodium and family office Kessler.
This round, which is the largest series B to date in the securities lending industry, solidifies Sharegain’s position as a major player in capital markets infrastructure and demonstrates the robustness of the technology of Sharegain, which has already been adopted by major global banks.
In line with its mission to democratize the $3 trillion securities lending industry, Sharegain has defined a new market category with its unique SLaaS (Securities Lending as a Service) solution. Sharegain has laid new ground and removed high barriers in the securities lending market, enabling online brokers, private banks, asset managers and custodians to benefit from an end-to-end offer and generate additional income on their assets that would otherwise remain dormant. .
WestCap, which is well known for its expertise in scaling Enterprise Fintech solutions, and the additional investors are perfectly positioned to take Sharegain to the next level as a key global player in securities lending. WestCap Partner Scott C. Ganeles will join Sharegain’s Board of Directors. Scott currently serves on the boards of Tradeweb and NYDIG, and is the former CEO of Ipreo, a global fintech company serving global financial institutions.
“We are thrilled to have WestCap, Citi, EJF Capital LLC and Optiver PSI join our existing shareholders in our mission to democratize securities lending,” said Boaz Yaari, Founder and CEO of Sharegain. “We believe that lending your stocks, bonds and ETFs is a fundamental property right that should be available to everyone. As private investor participation increases in the capital markets, we are leveling the playing field so that private investors, through their brokers and banks, can benefit from revenue-generating solutions that have been widely reserved for large financial institutions. We are humbled by this vote of confidence from such a strong group of investors. This partnership allows us to accelerate our plans and scale for global growth, expand our offering faster, and achieve our vision of opening securities lending to all investors worldwide.
“Securities lending is one of the last vestiges dominated by today’s major financial services firms,” said Scott C. Ganeles, partner at WestCap. “Sharegain’s core value proposition is its ability to provide securities lending functionality to every financial institution.”
“We see a major opportunity for Sharegain to improve access to an essential financial service, while benefiting both retail consumers and institutions. We look forward to forging a close partnership with Boaz and the team to support the global commercialization of Sharegain,” said Dan Fischer, Chief Investment Officer, EMEA for WestCap.
Sharegain is a leading FinTech in securities lending and capital markets infrastructure. Sharegain is democratizing the $3 trillion securities lending market with our unique Securities Lending-as-a-Service (SLaaS) solution, which provides every investor with revenue-generating solutions that were previously reserved for large financial institutions. Sharegain’s end-to-end digital solution combines full control and transparency with minimal overhead or upfront costs, enabling online brokers, private banks, asset managers and custodians to lend their stocks, bonds and ETFs, and to generate additional income for their own business. and their customers.
WestCap is a strategic investor and growth capital operator that partners with visionary leaders to build generational businesses. The WestCap team is made up of seasoned entrepreneurs and business builders who work side-by-side with founders to help businesses grow. With over $8 billion in assets under management and committed capital, WestCap has made notable investments like Airbnb, StubHub, Ipreo, Skillz, Addepar, Hopper, iCapital, GoodLeap, Cerebral, Bolt, Celsius and NYDIG. The company has offices in New York, San Francisco and London. For more information, visit www.WestCap.com.
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CONTACT: Markus Coleman
KEYWORD: EUROPE UNITED STATES UNITED KINGDOM NORTH AMERICA
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Copyright BusinessWire 2022.
PUBLISHED: 02/15/2022 06:50 / DISK: 02/15/2022 06:51
Copyright BusinessWire 2022.