Globacap, a startup looking to “digitise and automate” the world’s private capital markets, has raised $21m (£17.3m) in a Series B funding round.
Founded in 2017, Globacap develops software for financial institutions, including securities exchanges, banks and asset managers. Its tools automate admin and digitisation in private markets for processes such as issuance and the transfer and settlement of securities.
Globacap’s software-as-a-service (SaaS) product, according to the company is white labelled by 15 global institutions.
“Private capital markets are rapidly growing, but their opaque nature is holding them back from reaching their true potential,” said Myles Milston, Globacap co-founder and CEO.
“We are bringing public markets-like infrastructure to private capital markets to improve access, boost liquidity and remove administrative burdens.”
The company will use the fresh funds to ramp up marketing and sales efforts, and to expand internationally.
The Series B round featured investments from Moore Strategic Ventures, Cboe Global Markets, GABI Ventures, QBN Capital and Globacap customer, the Johannesburg Stock Exchange (JSE).
“The Globacap ecosystem is a vital enabler to our JSE Private Placements business, and our joint relationship has equipped the JSE to drive our diversification strategy in supporting capital formation in private markets,” said JSE director of capital markets, Valdene Reddy.
The JSE previously led Globacap’s £6.5m Series A round in 2021.