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Mergers & Acquisitions

Capitolis Buying LMRKTS for More than $50 Million

Capitolis recently raised $90 million.

Gil Mandelzis, founder and CEO of Capitolis. (PR pic Photo: Eyal Tuag)

Capitolis, an Israeli Fintech firm, offers a software as a service (SaaS) platform that drives financial resource optimization for capital markets. Capitolis is currently finalizing a deal to acquire LMRKTS, an American fintech firm. The purchase price has not been disclosed, but it is reportedly north of $50 million.

The acquisition is coming less than six months after Capitolis closed a $90 million Series C funding round led by Andreessen Horowitz (“a16z”). The company has raised $170 million to date. So now we know what Capitolis is doing with all that money

Founded in 2017 by Gil Mandelzis, Tom Glocer, and Igor Teleshevksy, Capitolis says that it is a pioneering technology provider for the capital markets. The company states that its SaaS products and solutions allow financial institutions to seamlessly identify optimization opportunities and execute in collaboration with other market participants.

Capitolis boasts that its network software enables financial institutions to “optimize their balance sheets, which creates a fairer, safer and healthier marketplace.” The company says that more than 75 financial institutions, as well as many hedge funds and asset managers, leverage Capitolis technology to bring the best services to market and achieve high levels of return, while using the most appropriate amounts of their financial resources.

LMRKTS, is an industry-leading multilateral optimization and compression provider. Launched in 2016, LMRKTS boasts that they contribute to the stability of the financial system by reducing various types of risk and costs for its clients. LMRKTS’ suite of services has eliminated trillions of dollars of obligations between some of the world’s largest financial institutions. LMRKTS was founded by former traders and technologists who saw an inefficiency in short term risk management and has received investment from The World Bank and Motive Partners.

Gil Mandelzis, founder and CEO of Capitolis, said, “At Capitolis, we are well on our way to meeting our audacious goal of transforming capital markets, guided by the tremendous demand we continue to see from the world’s most significant providers of capital.”

“With the addition of the fabulous capabilities Hilary, Sandeep, and the LMRKTS team have built,” he added, “we will unlock even greater opportunities to expand our product suite and enhance our technology. Together we move one step closer to a transformed, safer, healthier, and more efficient market.”

Hilary Park, co-founder and CEO of LMRKTS said. “When Sandeep Karkera and I started LMRKTS together with Lucio Biase over eight years ago, demand for network-based optimization services was just starting to accelerate. We have since seen firsthand the far-reaching impact that Capitolis has had on the marketplace over the past four years and know that as one team we will deliver truly exceptional results for our clients. Capitolis shares our vision for the future of capital markets, and we’re proud to be joining forces with them.”

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