Sharegain announced it has raised $64 million in a series B round led by WestCap and joined by Citi, EJF Capital and Optiver PSI. Participating existing investors include Maverick Ventures Israel, Blumberg Capital, SixThirty, Rhodium, and the Kessler family office. It is the largest series B fundraise to date in the securities lending industry and the funds will be used to accelerate the fintech’s global growth plans and scale.
Sharegain targets online brokers, private banks, asset managers and custodians to benefit from their Securities Lending as a Service model, which is an end-to-end offering that generates additional income on otherwise idle assets. WestCap scales Enterprise Fintech solutions.
Boaz Yaari, founder and CEO of Sharegain, said in a statement: “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.”
Scott Ganeles, partner at WestCap, said in a statement: “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 for EMEA at WestCap, in a statement.
Read SFM’s interview with Sharegain’s Boaz Yaari on the emergence of neobrokers in seclending