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London-based capital markets technology firm, Globacap, has raised $21m in a Series B funding round on Wednesday. The funding was contributed by a group of investors including Moore Strategic Ventures, Cboe Global Markets (NYSE:), Johannesburg Stock Exchange (JSE), GABI Ventures, and QBN Capital.
The newly acquired funds will be utilized to bolster marketing and sales initiatives, enable geographical expansion, and enhance product development. Globacap’s software, a white label SaaS solution that digitizes and automates private capital markets for financial institutions such as securities exchanges and private banks, has facilitated over 70 private placements and executed more than $350m in automated secondary liquidity settlement. Currently, the firm administers over $14bn of private securities.
Globacap, founded six years ago by Myles Milston and Alex Green, is focused on digitizing and automating the rapidly expanding private capital markets which reached $11.7 trillion AUM in 2023. The market is predicted to double in the next five years. According to InvestingPro data, Globacap’s market cap is currently 4.36M USD, with an average daily volume of 12.11M USD.
The co-founders see the recent funding as both a validation of their mission and a catalyst for global scaling. In preparation for this growth phase, Globacap has recently onboarded Joanna Tibbitt as COO and Suzanne McLaughlin as CMO to fortify its team. Valdene Reddy from JSE expressed support for Globacap’s growth phase.
InvestingPro tips suggest that Globacap’s net income is expected to grow this year, and analysts anticipate sales growth in the current year. This optimism is reflected in the company’s ambitious expansion plans. However, the company does not pay a dividend to shareholders, and it has been trading near its 52-week low, with a 1 Year Price Total Return of -69.6%. The price has fallen significantly over the last year, and over the last three months, it has fallen by -41.54%.
Despite these challenges, the company’s recent funding and expansion plans indicate a positive outlook. For more detailed insights and tips, consider exploring InvestingPro’s premium services, which offer additional tips and real-time metrics to guide investment decisions.
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