Capital markets infrastructure FinTech Sharegain has raised $64 million in a Series B funding round, led by WestCap and joined by Citi, EJF Capital and Optiver PSI.
The investment marks the largest Series B funding round to date in the securities lending industry, cementing Sharegain’s role in the capital markets infrastructure market.
Founded in 2015, Sharegain offer a Securities-Lending-as-a-Service product, which aims to generate additional income for investors on assets that would otherwise sit idle.
“We’re thrilled that WestCap, Citi, EJF Capital and Optiver PSI are joining our existing shareholders on our mission to democratise securities lending,” said Boaz Yaari, founder and CEO of Sharegain. “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 largely restricted to big financial institutions.
“We are humbled by this vote of confidence from such a strong group of investors. 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.”
As part of the agreement, WestCap partner Scott Ganeles will join the Sharegain board. Commenting on the funding round, Ganeles said: “Securities lending is one of the last vestiges dominated by today’s leading financial services companies. Sharegain’s core value proposition is its ability to provide securities lending functionalities to every financial institution.”