02.16.2022

Sharegain Raises Largest Series B in Securities Lending

02.16.2022
Instinet authorised for cash research payments

Sharegain, a leading capital markets infrastructure fintech, announced it has raised $64 million in a series B round led by WestCap and joined by Citi, EJF Capital LLC and Optiver PSI. Participating existing investors include Maverick Ventures Israel, Blumberg Capital, SixThirty, Rhodium, and the Kessler family office.

This round, which is the largest series B to date in the securities lending industry, cements Sharegain’s position as a leading capital markets infrastructure player and is a testament to the robustness of Sharegain’s technology, which has already been adopted by leading global banks.

In line with its mission to democratize the $3 trillion securities lending industry, Sharegain has defined a new market category with its unique SLaaS (Securities Lending as a Service) solution. Sharegain has laid new rails and removed the previous high barriers into the securities lending market, enabling online brokers, private banks, asset managers and custodians to benefit from an end-to-end offering and generate additional income on their assets that would otherwise sit idle.

WestCap, which is well known for its expertise in scaling Enterprise Fintech solutions, and the additional investors are perfectly positioned to propel Sharegain to the next level, as a key global player in securities lending. WestCap Partner Scott C. Ganeles will join the Sharegain board. Scott presently sits on the boards of Tradeweb and NYDIG, and is the former CEO of Ipreo, a global fintech company servicing global financial institutions.

“We are thrilled that WestCap, Citi, EJF Capital LLC and Optiver PSI are joining our existing shareholders on our mission to democratize securities lending”, said Boaz Yaari, Founder and CEO of Sharegain. “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 realize our vision of opening up securities lending to every investor worldwide.”

“Securities lending is one of the last vestiges dominated by today’s leading financial services companies,” said Scott C. Ganeles, Partner at WestCap. “Sharegain’s core value proposition is its ability to provide securities lending functionalities to every financial institution.”

“We see a major opportunity for Sharegain to improve access to a critical financial service, while benefiting both retail consumers and institutions. We look forward to forging a close partnership with Boaz and the team to support Sharegain’s global commercialization,” said Dan Fischer, Head of Investments, EMEA for WestCap.

Source: Sharegain

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