Sharegain, a capital markets infrastructure FinTech looking to democratise the securities lending industry, has raised $64m from a Series B funding round led by WestCap.
The round also saw participation from Citi, Optiver PSI, EJF Capital LLC, SixThirty, Rhodium Maverick Ventures Israel, Blumberg Capital and the Kessler family office. Scott Ganeles – a partner of WestCap – will join the Sharegain board.
According to Sharegain, this recent round is the largest Series B to date in the securities lending industry and cements its position as a leading capital markets infrastructure player.
Sharegain has defined a new market category with its Securities Lending as a Service (SLaaS) solution. The company has laid new rails removed the high barriers into the securities lending market enabling online brokers, private banks, asset managers and custodians to benefit from an end-to-end offering.
Sharegain founder and CEO Boaz Yaari said, “We are thrilled that WestCap, Citi, EJF Capital LLC and Optiver PSI are joining our existing shareholders on our mission to democratize securities lending. We believe that lending your stocks, bonds and ETFs is a basic ownership right that should be made available to all.
“As private investor participation increases in capital markets, we are leveling 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.”