Israel’s Capitolis Raises $11 Million From JP Morgan and Citi
Capitolis, an Israeli Fintech firm, has raised $11 million in a Series B round of investment. New investors include such powerhouses as Citi, JP Morgan and State Street.
Founded by Gil Mandelzis, Tom Glocer, and Igor Teleshevksy, Capitolis says that it is a pioneering technology provider for the capital markets.
Fintech is about using new technologies to promote the field of finance. How fitting it is, then, that such firms as Capitolis exist in startup nation. Since Israel is a major high tech hub, and it also has major venture capital firms, just put the two together and get fintech.
By utilizing a unique, market risk-flat investment structure, Capitolis unites the demand for attractive short-term investment returns with the desire of global banks to improve their client trading franchises. This catalyzes the use of modern, technology-driven solutions to transform some of the largest and most important global financial services markets.
Gil Mandelzis, CEO and founder of Capitolis stated: “We are excited to have three of our trusted partners provide further support for our vision and business model focused on transforming the marketplace for the benefit of all participants,” said. “While we have made great strides over the past three years since starting the company, it is only the beginning of our work in creating a new industry standard through collaboration, innovation, and technology. There is much more transformation yet to come.”
Okan Pekin, Global Head of Securities Services at Citi, said, “We are proud to support Capitolis and its innovative approach to capital optimization and efficiency. We have been growing supporters of the platform since its inception and believe Capitolis’ unique approach will play a significant role in enhancing global markets by driving increased industrywide collaboration to achieve higher growth.”
“It’s been a pleasure to work with these three leading financial institutions,” said Tom Glocer, Executive Chairman of Capitolis. “It is the logical next step to add them to our capitalization table, and we look forward to their guidance in evolving our services to meet the needs of our clients for years to come.”