Monark Markets, a NYC-based fintech startup that embeds private market investments and trading solutions within traditional brokerage and wealth platforms, raised $2.2M in Seed funding.
The round, which brought Monark’s total funding to $3.6M, was led by Garuda Ventures, with participation from K50 Ventures, Grit Capital Partners, Niche Capital, and angel investors including Nik Talreja, the CEO of Sydecar and Shriram Bhashyam, the COO of Sydecar. Previous investors included Forum Ventures and Night Capital.
Founded in 2022 and led by Ben Haber, CEO, and Paul Davis, COO, Monark Markets is a startup providing Alts-as-a-Service (AaaS) infrastructure. Its b2b platform allows other businesses to embed private securities into their customer experiences through an API, handling the backend regulatory and operational complexities. In 2023, Monark acquired assets and intellectual property from LEX Markets, further expanding its offerings in the alternative securities market.
In May of 2023, Monark closed on the acquisition of the technology assets and IP developed by LEX Markets through an insolvency process. LEX Markets had previously raised $27M in venture funding from a number of notable venture investors including Greycroft, Khosla and Peak6. Monark operates a fully owned subsidiary known as MMM Securities LLC, which is a FINRA member broker dealer approved to offer private placements, retail mutual funds and operate an alternative trading system.
Monark plans to launch with Beta partners in Q4 of 2024.
FinSMEs
22/10/2024