Globacap Secures $21M in Series B Funding

Published 6 months ago
  Globacap

Technology firm Globacap, known for its breakthrough work in digitising and automating the $12 trillion private capital market, has successfully secured $21 million in Series B funding.

Participation in Funding Round

The funding round saw participation from Moore Strategic Ventures, Cboe Global Markets, and the Johannesburg Stock Exchange.

Aiming for Market Potential

Globacap aims to revolutionise private capital markets through digitisation and automation. The firm’s workflow automation SaaS is designed to infuse public markets-like efficiency into private markets by streamlining processes from issuance, ongoing administration, to settlement of securities. This innovation is expected to significantly cut costs and enhance efficiency for market intermediaries.

Achievements and Goals

From its inception six years ago, Globacap has shown impressive growth, hosting 15 white labels for global institutions and managing an ecosystem that handled over 70 private placements. It has completed transactions worth over $350 million in secondary transactions of private assets with automated settlement. Currently, Globacap administers $14 billion of private securities.

The newly raised funds will be utilised to bolster the firm’s marketing and sales efforts, expand its reach into new geographies and further invest in product development.

CEO’s Statement

Myles Milston, CEO of Globacap, spoke about the need for transparency in the rapidly growing private capital markets. He remarked, “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.”