Capitolis has raised $40m from investors as the capital markets fintech plans to hire more staff and upgrade its technology.
The New York-based firm raised the cash in a Series B fundraising led by US venture capital firms Spark Capital and SVB Capital.
The business, formed founded in 2017 by a group of former trading and financial tech executives including former Thomson Reuters boss Tom Glocer, had previously raised $70m from investors.
Capitolis connects buyers and sellers across a number of capital markets, and cuts out a number of manual processes in compliance and foreign exchange procedures.
The fintech said more than 50 banks and hedge funds, including HSBC, Deutsche Bank, Société Générale, BlueCrest, Brevan Howard and Citigroup already use the platform.
“There are trillions of positions and financing positions that can be optimised,” Capitolis’ co-founder and chief executive Gil Mandelzis told the Financial Times.
He added: “For banks, their balance sheets are a precious commodity. The fundamental rules of markets have been rewritten and now the question is what it would look like in the future.”
Mandelzis said the start-up will use the cash to spend on boosting its technology and hiring new employees.
The company currently has 55 staff in New York City, London and Tel Aviv.