Fintech company Capitolis Inc. has raised $11 million from financial giants Citi, J.P. Morgan, and State Street. The investment represents a major endorsement by three of the leading global financial institutions in Capitolis’ platform and represents further adoption of Capitolis’ proprietary technology solution. It is a strategic investment for the company which has so far raised $81 million.
Capitolis was founded in 2016 by serial entrepreneur Gil Mandelzis alongside former Thomson Reuters Chief Executive Tom Glocer and Igor Teleshevsky. The company employs 75 people in Tel Aviv, New York, and London and is the process of recruiting dozens more.
The company’s platform helps financial institutions free up capital and remove barriers that would otherwise restrict trading. Capitolis enables firms to optimize their balance sheet exposures through collaborative technology by eliminating unnecessary positions and finding the most suitable party to hold the remaining positions. To date, Capitolis has eliminated $5 trillion in overall positions for more than 50 financial institutions, including many of the world’s largest banks, as well as leading hedge funds and asset managers.
South Africa Today
Read more at VolaNews
