SIMON Markets, which claims to be transforming digital wealth management, has secured $100m in the first batch of a strategic financing round.
The Series B was led by growth equity investor WestCap, with commitments also coming from existing SIMON Markets backers.
With the funds, the FinTech company will help advance its core offering across structured investments and annuities, as well as support product and geographic expansion.
The FinTech company, which spun out from Goldman Sachs in 2018, has more than 100,000 customers.
SIMON Markets, which offers an end-to-end digital suite of tools, improves the digital experience for financial professionals and helping them better serve their clients. Its tools include on-demand education, real-time analytics and lifecycle management.
SIMON CEO Jason Broder said, “Through our seamless user experience, SIMON provides financial professionals and their clients access to markets and products that carry a number of differentiated and value-added characteristics, and this funding will only help further our mission.
“By combining WestCap’s experience and expertise, along with SIMON’s strength in innovative wealth management technology, we have successfully embarked on the next phase of widening the spectrum of financial opportunities for investors.”
As part of the investment, WestCap Partner Kevin Marcus will join the SIMON Markets board of directors.
Copyright © 2021 FinTech Global
