Capital Markets Gateway (CMG), a platform modernising the equity capital markets (ECM) has secured a $25m strategic investment.
The capital came from a selection of financial institutions including Barclays, Citi, Goldman Sachs, J.P. Morgan and Morgan Stanley, as well as Fidelity Investments.
A number of existing CMG investors also contributed to the new round, including Canaccord Genuity, Franklin Templeton, StageDotO and Shea Ventures.
With the close of the round, the FinTech will continue its growth and expansion efforts. It plans to become the first ECM solution in the US to offer digital connectivity between the buy-side and sell-side.
The company was designed to improve the fragmented and inefficient process of capital raising, by establishing a common solution that establishes a cohesive channel between equity capital markets participants.
CMG claims it has supported 100 buy-side firms representing $12trn in AUM and 15 investment banks.
Its customers benefit from actionable insights via its DataLab service, which offers streamlined workflow tools, real-time data and analytics.
CMG CEO and co-founder Greg Ingram said, “It’s clearer now more than ever in the current environment that the way we do business today demands modern, agile, accessible, and transparent solutions – no matter where your desk is and no matter where your team members and partners are.
“Companies access the capital markets to raise money that will ultimately drive expansion, innovation, and employment growth, which is why we have built an integrated capital markets platform that will optimize the deal flow process for all market participants. We are humbled by this tremendous validation from some of the top names in finance – all of whom share in our vision.”
Copyright © 2020 FinTech Global
