(Bloomberg) — U.K. startup Sharegain has raised $64 million to expand its securities lending platform, a digital solution designed to allow more firms to lend out stocks and bonds to generate revenue.
The new funding round — one of the largest to date in the securities lending industry — was led by WestCap, Sharegain said in a statement Tuesday.
Citigroup Inc., EJF Capital LLC and Optiver PSI also participated, along with existing investors.
Founded in 2015 and led by Chief Executive Officer Boaz Yaari, Sharegain is targeting the $3 trillion securities lending industry that’s traditionally been the preserve of big financial institutions.
The firm says its platform enables users from online brokers to private banks to participate in the market.
“Securities lending can be an important source of additional income for retail investors and financial institutions but today it’s only accessible to the largest players,” Dan Fischer, head of investments for WestCap in EMEA, said in the statement.
“Sharegain is helping to bridge this gap and leveling the playing field.”
More stories like this are available on bloomberg.com
©2022 Bloomberg L.P.
