Sharegain rolls out securities lending platform
05 November 2018 London
Image: Shutterstock
Sharegain has raised a total of $12 million to support the roll-out of its platform to private banks, online brokers and robo-advisers.
The funding, over two rounds, comes from Blumberg Capital, Target Global, Maverick Ventures Israel, Rhodium and private investors from the financial industry.
Sharegain is the first fintech to receive Financial Conduct Authority approval to offer its securities lending platform to retail investors.
The platform, according to Sharegain, will open up the opportunity of securities lending for private investors and wealth managers for the first time, with a transparent, controlled, and simple solution.
The firm is also collaborating with global financial institutions to drive best practice and a more transparent approach to securities lending.
Boaz Yaari, CEO and co-founder of Sharegain, commented: “This is a 40-year, $2.5 trillion industry whose full potential has never been fulfilled. A performant securities lending market will not only benefit all investors in an increasingly volatile and low-yield environment, but it will be good for the market overall.”
He added: “It brings greater liquidity and efficiency, ensuring the settlement of certain trades, promoting price discovery and facilitating market making.”
“The old way of securities lending was complex, opaque and outdated, in a ‘need to know’ system that few understood and even fewer controlled. Now, for the first time, it is effortless, effective and open to any investor. We’re excited to be on-boarding investors globally and helping their wealth work harder for them.”
Mike Lobanov, general partner at Target Global, said: “With a first class team, strong market fit and significant early demand from institutions and private investors, Sharegain already displays a mix of market-shaping potential and ability to execute rarely seen among startups in capital markets.”
He added: “We’re excited to be working with the Sharegain team as it scales-up operations and unlocks the huge potential of the securities lending category.”
The funding, over two rounds, comes from Blumberg Capital, Target Global, Maverick Ventures Israel, Rhodium and private investors from the financial industry.
Sharegain is the first fintech to receive Financial Conduct Authority approval to offer its securities lending platform to retail investors.
The platform, according to Sharegain, will open up the opportunity of securities lending for private investors and wealth managers for the first time, with a transparent, controlled, and simple solution.
The firm is also collaborating with global financial institutions to drive best practice and a more transparent approach to securities lending.
Boaz Yaari, CEO and co-founder of Sharegain, commented: “This is a 40-year, $2.5 trillion industry whose full potential has never been fulfilled. A performant securities lending market will not only benefit all investors in an increasingly volatile and low-yield environment, but it will be good for the market overall.”
He added: “It brings greater liquidity and efficiency, ensuring the settlement of certain trades, promoting price discovery and facilitating market making.”
“The old way of securities lending was complex, opaque and outdated, in a ‘need to know’ system that few understood and even fewer controlled. Now, for the first time, it is effortless, effective and open to any investor. We’re excited to be on-boarding investors globally and helping their wealth work harder for them.”
Mike Lobanov, general partner at Target Global, said: “With a first class team, strong market fit and significant early demand from institutions and private investors, Sharegain already displays a mix of market-shaping potential and ability to execute rarely seen among startups in capital markets.”
He added: “We’re excited to be working with the Sharegain team as it scales-up operations and unlocks the huge potential of the securities lending category.”
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
