Alexander Green and Miles Milston/Globacap
Globacap raises $21m Series B
Globacap wants to streamline and simplify the $11.7 trn private assets markets.
Globalcap, a UK fintech seeking to digitise and automate the world’s private capital markets, has raised a $21m Series B funding round.
Investors in the round included a number of capital markets specialists and incumbents such as Moore Strategic Ventures, Cboe Global Markets and the Johannesburg Stock Exchange, as well as GABI Ventures and QBN Capital.
Globacap says it can streamline and simplify the $11.7 trn private assets markets, bringing processes from issuance and administration to transferability and settlement of securities into the digital sphere.
"Private capital markets are rapidly growing, but their opaque nature is holding them back from reaching their true potential. We are bringing public markets-like infrastructure to private capital markets to improve access, boost liquidity and remove administrative burdens.” Myles Milston, Globacap Co-Founder and CEO said.
“Securing considerable backing from world-leading investors during a time of market turbulence, risk aversion and uncertainty is a powerful validation of our mission to transform and drive efficiency in private capital markets. We’re in a unique position to grow through the current market turmoil, leading with strength as market conditions eventually improve,” he added.
Since launching in 2018 Globacap has hosted 70+ private placements, completed over $350m in secondary transactions and currently administers $14bn of private securities.
The new cash will be used to expand into new geographies and expand Globacap's white label product which is used by the JSE and Instinet.