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Capitolis becomes Israel’s latest fintech unicorn with $110 million Series D at $1.6 billion valuation

Capitolis becomes Israel’s latest fintech unicorn with $110 million Series D at $1.6 billion valuation

The Israeli startup has optimized over $13 trillion in trades through its compression and novation engine, serving over 100 financial institutions

CTech | 12:45  22.03.2022

Israeli fintech startup Capitolis announced on Tuesday that it has raised a $110 million Series D at a $1.6 billion valuation. The fundraise was co-led by top fintech investors Canapi Ventures, 9Yards Capital, and SVB Capital. They join existing investors including a16z, Index Ventures, Sequoia Capital, S Capital, Spark Capital, Citi, and State Street. To date, Capitolis has raised $280 million, including a $90 million Series C one year ago.

Capitolis has developed a software as a service (SaaS) platform that provides financial resource optimization for capital markets, and enables financial institutions to allocate their capital more efficiently and in line with the constantly changing regulatory landscape.

Capitolis CEO Gil Mandelzis. Photo: Eyal Tuag Capitolis CEO Gil Mandelzis. Photo: Eyal Tuag Capitolis CEO Gil Mandelzis. Photo: Eyal Tuag

“Over the past two years, our vision to reinvent capital markets has gained tremendous momentum as we have tripled our revenue, customer base and team,” said Gil Mandelzis, CEO and Founder of Capitolis. “We are just scratching the surface on reimagining the capital markets. We are thrilled to have partners like Canapi, 9Yards, and SVB Capital who bring strategic expertise, a true passion for the mission and a powerful network to leverage as we embark on our next chapter of growth.”

Capitolis was founded in 2017 by Mandelzis, Tom Glocer, and Igor Teleshevsky. Mandelzis serves as CEO, and is one of the former founders of the fintech company Traiana which was acquired by ICAP for $300 million in 2007. Glocer serves as Executive Chairman, and in the past served as the CEO of Thomson Reuters. Teleshevsky serves as the VP of R&D, and in the past was Executive Vice President of Traiana and later CIO at ICAP.

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In connection with the funding round, Jeffrey Goldstein, senior advisor at Canapi Ventures, Dan Beldy, partner at Canapi Ventures, and George Osborne, Founding Partner at 9Yards, joined the Capitolis Board of Directors. Previously, Osborne served as an advisor to BlackRock following his role as UK Chancellor of the Exchequer; Goldstein served as Managing Director and Chief Financial Officer of the World Bank; and Beldy served as Managing Director of Steamboat Ventures, the venture arm of The Walt Disney Company.

“We are now moving to the next phase of growth for Capitolis as we grow exponentially year after year and deliver increased innovation for capital markets,” added Mandelzis. “Just two years after launch, the capital marketplace business has already transacted $60B+ notional from over 30 investors. Capitolis has optimized over $13 trillion in trades through its compression and novation engine, serving over 100 financial institutions. Our vision is becoming a reality and we look forward to super-charging our marketplace in the months and years to follow.”

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