Sharegain the leading capital market infrastructure fintech, today announced that it had raised $64 million in a series-B round, led by WestCap & joined by Citi, EJF Capital LLC and Optiver PSI. Participants are existing investors Maverick Ventures Israel, Blumberg Capital, SixThirty, Rhodium, and Kessler family office.
This round, which is the largest series B to date in the securities lending industry, cements Sharegain’s position as a leading capital markets infrastructure player and is a testament to the robustness of Sharegain’s technology, which has already been adopted by leading global banks.
Sharegain, in keeping with its mission to democratize $3 trillion of securities lending industry has established a new market with its unique SLaaS (“Securities Lending as a Service”) solution. Sharegain has broken down the barriers that previously prevented the market from thriving. This allows online brokers, asset managers, custodians, and private banks to access a complete offering and generate extra income from assets that otherwise would be sitting idle.
WestCap, a well-respected company that specialises in scaling Enterprise Fintech solutions and the additional investors, are perfectly placed to take Sharegain to the next level as a major global player in securities lending. Scott C. Ganeles (WestCap Partner) will join Sharegain’s Board. Scott is currently a board member of NYDIG and Tradeweb, and was previously CEO of Ipreo which provides global fintech services to global financial institutions.
“We are thrilled that WestCap, Citi, EJF Capital LLC and Optiver PSI are joining our existing shareholders on our mission to democratize securities lending”,Boaz Yaari, founder and CEO at Sharegain, said:. “We believe that lending your stocks, bonds and ETFs is a basic ownership right that should be made available to all. We are leveling playing fields to allow private investors, via their banks and brokers, to access income-generating solutions that had been restricted to large financial institutions. Private investor participation is increasing in capital markets. We are humbled to receive this vote of trust from such a strong group. 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.”
“Securities lending is one of the last vestiges dominated by today’s leading financial services companies,” said Scott C. Ganeles, Partner at WestCap. “Sharegain’s core value proposition is its ability to provide securities lending functionalities to every financial institution.”
“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,” Dan Fischer, Head Investments at EMEA WestCap.