Sharegain, a capital markets infrastructure finance technology company, has raised US$64 million in Series B round funding.
The funding led by WestCap has been joined by Citi, EJF Capital LLC and Optiver PSI.
Participating existing investors include Maverick Ventures Israel, Blumberg Capital, SixThirty, Rhodium, and the Kessler family office.
In line with its mission to democratise the US$3 trillion securities lending industry, Sharegain says it has defined a new market category with its Securities Lending as a Service (SLaaS) solution.
Sharegain enables online brokers, private banks, asset managers and custodians to benefit from an end-to-end offering and generate additional income on their assets.
The firm also announced that WestCap partner Scott C. Ganeles, the former CEO of Ipreo and board member of Tradweb and NYDIG, will join the Sharegain board.
Boaz Yaari, founder and CEO of Sharegain, says: “We are thrilled that WestCap, Citi, EJF Capital LLC and Optiver PSI are joining our existing shareholders on our mission to democratise securities lending. We believe that lending your stocks, bonds and exchange-traded funds is a basic ownership right that should be made available to all.
“As private investor participation increases in capital markets, we are levelling the playing field so that private investors, through their brokers and banks, can benefit from income-generating solutions that have been restricted to big financial institutions. This partnership enables us to accelerate our global growth plans and scale, expand our offering faster and realise our vision of opening up securities lending to every investor worldwide.”
Dan Fischer, head of investments for Europe, the Middle East and Africa at WestCap, adds: “We see an 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 commercialisation.”
