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Clear Street Series B funding hits $435m

By Ross Henry Law

US FinTech Clear Street has announced $270 million of further investment in its Series B funding round.

The New York-based FinTech, which launched in 2018, offers a prime brokerage platform providing clearing and custody services.

The investment from equity firm Prysm Capital brings the total funding in the round to $435 million after previous Series B investment, led by Prysm Capital and with participation from other investors including NextGen Venture Partners, Walleye Capital, Belvedere, of $165 million.

Building on its aim to build better infrastructure to improve market access, Clear Street is now valuated at $2 billion.

The company said the new funding will help it to expand its reach across new markets and asset classes, accelerate future product offerings, and offer solutions for clients looking to migrate to a single-source platform.

“Over the past year, the number of institutional clients on our platform increased by 500 percent and our daily transactional volume increased over 300 percent,” said Chris Pento, co-founder and chief executive, Clear Street. “We’re excited to keep this momentum with support from our continued partnership with Prysm.”

Matt Roberts, co-founder and partner at Prysm said the company has “tremendous confidence” in Clear Street’s outlook and looks forward to continuing its partnership in the company’s next phase of growth.

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