Globacap, a London-based fintech that is working to automate capital markets, has completed a $9 million Series A extension to fuel the roll-out of its private placement platform. The platform digitises and ‘semi-automates’ the process, from offering documentation, to distribution, AML, tracking, bookbuilding and settlement.
The funding extension was led by the Johannesburg Stock Exchange (JSE) with participation from Moore Strategic Ventures. The JSE and Globacap have also entered into a commercial agreement to launch two private placement platforms in Africa later this year. The first is to digitise investment into infrastructure projects, what the UK company calls a “$100 billion market”, and the second for investment into SMEs. Authorised and regulated by the FCA, Globacap digitises private shares and debt instruments. The UK company claims over $3 billion of private shares and debt instruments are digitally administered on its platform for 60 companies and over 8,000 shareholders and debt investors.
Photo: Globacap co-founders Alexander Green and Myles Milston