Fintech Firm ICapital Network Valued At Over $6 Billion After Latest Funding

Monetary expertise platform iCapital Community mentioned on Thursday it had fetched a valuation of greater than $6 billion after elevating $50 million in a funding spherical led by personal fairness agency WestCap.

Enterprise capital companies Apollo International Administration and Temasek additionally participated within the newest funding spherical, iCapital mentioned.

In July, the corporate had raised $440 million in recent capital in a spherical led by Temasek with participation from new investor Owl Rock and exiting traders Wells Fargo, Morgan Stanley and Goldman Sachs Asset Administration.

The funding spherical in July had valued the agency at about $4 billion.

The corporate, based in 2013, affords companies within the various funding market to enterprises within the wealth administration, banking, and asset administration industries.

Present traders within the firm additionally embody personal fairness companies Blackstone, KKR & Co Inc, and Carlyle Group.

ICapital mentioned it intends to make use of the funds raised within the spherical to increase current options on its platform and pursue acquisitions.

The New York-based startup’s platform is used primarily by wealth managers to offer purchasers with comparative information on high quality funds and different types of belongings to make investments.

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