FinTech startup Capitolis, co-founded by the former CEO of Thomson Reuters, has raised $20 million in funding.
The FinTech firm’s second funding round was led by Index Ventures, while the first round was led by Sequoia Capital and generated $9 million in funding.
Capitolis was established in 2017 by the former CEO of EBS BrokerTec Gil Mandelzis, former head of technology at Traiana Igor Teleshevsky, and Tom Glocer, formerly the CEO at Thomson Reuters.
The firm said it is currently developing several products and services, initially in foreign exchange and equities to be announced later this year, looking to address constraints in capital markets.
“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,” said Mendelzis, CEO at Capitolis. “And we have assembled an extraordinarily capable team with a range of skills and talents to help achieve this.”
Capitolis has also made several hires to the management team, including former head of US short rate sales at Bank of America Merrill Lynch, Joseph Tarditi, who joins as global head of capital market sales.
Similarly, David Lamb who has worked at Morgan Stanley and Citi, and most recently at State Street, has been appointed chief risk officer.
Executive chairman at Capitolis, Glocer commented: “In my long experience in financial markets it is rare to find a company that solves both a focused set of complex capital markets problems and at the same time presents a substantial long-term growth opportunity.”