You know a company is bound to do big things when they launch right from their Seed Round to their Series A funding in a single day. That is precisely the approach fintech firm Capitolis took when, on Tuesday, they announced dual fundings of $9 million and $20 million in their respective rounds.
Founded in 2017, Capitolis creates products that combine different elements of the capital market sector into a transparent, user-friendly suite. In layman’s terms, Capitolis builds platforms that aid those looking to better understand equity trading, long-term investments, and securities. With how nuanced and complex this sounds, perhaps it’s no surprise that investors were eager to put their money where their businesses is.
“Capitolis has a bold vision, rethinking the way markets operate," said Index Ventures Partner Jan Hammer in a statement on the funding. Index Ventures spearheaded the $20 million Series A Round, while Sequoia Capital financed the $9 million Seed Round. "Capitolis has the potential to have a lasting positive impact on the capital markets, increasing the availability of financing while reducing the associated cost."
Investors were also likely swayed by the impressive and experienced leadership at the head of Capitolis. The fintech firm is headed by Gil Mandelzis, former CEO of EBS BrokerTec, Tom Glocer, once the CEO of Thomson Reuters, and Igor Teleshevsky, who previously served as Executive VP and Head of Technology at Triana.
Capitolis has the potential to have a lasting positive impact on the capital markets."
Sequoia Capital partner and former investor in Mandelzis, spoke highly of the founder in a company statement, saying: “Gil is the type of founder who can transform industries, and we're thrilled to be in business with him again. We believe Gil's vision for Capitolis can reshape the capital markets and unlock huge potential.”
In return, Mandelzis spoke of Capitolis’ plans to revolutionize the capital market structure: “We believe there is a significant and untapped opportunity to better distribute capital through the system, which can be unlocked by the appropriate products, skills, experience and focus that Capitolis brings,” he said. “We have seen a very positive response from our partner banks, institutional investors and clients who understand the benefits of the approach that we are leading. And we have assembled an extraordinarily capable team with a range of skills and talents to help achieve this."
We believe there is a significant opportunity to better distribute capital [...] which can be unlocked by the appropriate products, skills, experience and focus that Capitolis brings.”
Presently, Capitolis has 25 employees spread across its New York City headquarters, as well as London and Tel Aviv offices. The company intends to spend 2018 building the best team possible and will use the funding to make key hires.
The staffing boost will help jump-start Capitolis as they roll out their innovative product line in the coming months.