Fintech firm Capitolis has raised $29 million in two separate rounds of funding: $20 million from Index Ventures and $9 million from Sequoia Capital.
The company, which is based in London with offices in Tel Aviv and New York, develops services and solutions for capital markets, such as equities and foreign exchange. It will be announcing its first products this year.
“We believe there is a significant and untapped opportunity to better distribute capital through the system which can be unlocked by the appropriate products, skills, experience and focus that Capitolis brings,” said CEO Gil Mandelzis (pictured), formerly of EBS BrokerTec, adding that Capitolis has received positive feedback from its partner banks and institutional investors thus far.
As well as the investment, Capitolis has added new executives to its management team: Justin Klug (formerly of Credit Suisse and Bank of America Merrill Lynch), Joseph Tarditi (former Managing Director and Head of US Short Rate Sales at Bank of America Merrill Lynch). and David Lamb (formerly of Morgan Stanley and Citi).
“In my long experience in financial markets it is rare to find a company that solves both a focused set of complex capital markets problems and at the same time presents a substantial long-term growth opportunity,” added company chairman Tim Glocer. “We have assembled an exceptional team who bring the perfect capital markets, technology and start-up experience to deliver on this ambition.”