Capitolis said to raise $40m in funding

Capital markets technology developer Capitolis has reportedly raised $40m in funding from Spark Capital and SVB Capital.

The funding will be used to support the expansion of its technology and product offering, according to reports in the market.

Capitolis builds technology for the capital markets which connects participants and improves efficiency. Its goal is to address capital market constraints in equities and foreign exchange.

As part of the new deal, Spark Capital partner Jeremy Phillips will join the company’s board of directors.

Last year, the FinTech netted $29m in a funding round from Index Ventures and Sequoia Capital.

Earlier in the month, Spark Capital led the funding round of API stock brokerage Alpaca. The FinTech improves commission-free trading available more widely by allowing businesses to create and connect algorithms to buy and sell stocks.

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