Barclays, JP Morgan, Citi, Morgan Stanley, UBS, BNP Paribas, and State Street have taken part in a $56 million funding round for SaaS-based platform provider Capitolis.
JPMorgan, Citi, Morgan Stanley, State Street and UBS each invested $5 million in the FinTech in November 2024.
Capitolis said it is experiencing strong business momentum and expansion, adding that it will use the money raised to accelerate its growth within its capital marketplace and portfolio optimisation business.
The company works with banks and financial institutions to help them optimise their processes.
Other companies taking part in the funding round include existing venture capital firms Canapi Ventures, 9Yards Capital, and Greenfield Partners.
“We’re pleased to support the ongoing development of innovative products by Capitolis, and this investment further cements the collaboration between our firms,” said Kester Keating, head of US principal investments at Barclays.
Junaid Baig, head of strategic investments at BNP Paribas added: “We’re excited to support the growth of Capitolis and collaborate with its strong leadership team in developing innovative solutions that enable us to better serve our clients.”
The move comes as major banks continue to invest in and collaborate with FinTechs and start-up partners.
In June, Barclays announced it is launching an Innovation Hub in London in collaboration with several partners from the technology sector, including Microsoft and Nvidia.
Powered by Barclays Eagle Labs, the bank's incubation initiative, the new Hub will focus on accelerating the commercial growth of start-ups in the AI, deep tech and innovation economy sectors by connecting founders, industry leaders and investors.
Last month, BNP Paribas Personal Finance UK has announced the return of its FinTech Incubator Programme for a third consecutive year.
The bank’s UK and Irish consumer finance subsidiary said that this year its Innovation Lab, which it will run alongside partners STEAMhouse and SuperTech WM, focuses on how the sector can use generative AI (genAI) to boost customer communications and insight to drive engagement, understanding and effectiveness in the West Midlands and wider UK.
Recent Stories