Zanbato, Inc., a Mountain View, CA-based financial technology company whose platform facilitates private placement workflows and connectivity in private securities markets, raised $8m in Series B funding.
The round was led by AITV (Accelerate-IT Ventures), with participation from existing investor Formation 8 and other unnamed families and venture capitalists.
The company intends to use the proceeds to further develop its data and technology practice and to expand its presence in private financial markets.
Led by Nico Sand, Chief Executive Officer, Zanbato provides private label platforms for Broker-Dealers, Fund Managers, Private Wealth Managers, and Co-Investment Networks to manage the distribution and placement of private offerings to their clients, who include large institutional allocators such as Sovereign Wealth Funds, Foundation/Endowments, and Pensions, as well as Family Offices and High Net Worth Individuals.
FinSMEs
06/05/2015
Press Release
Zanbato Raises $8 Million in Series B Funding
New funding will be used to further develop its data and technology practice and to expand its footprint in private financial markets
MOUNTAIN VIEW, Calif., May 6, 2015 /PRNewswire/ — Zanbato, Inc., a financial technology company whose platform facilitates private placement workflows and connectivity in private securities markets, today announced that it has raised $8 million in Series B funding led by AITV (Accelerate-IT Ventures), with participation from existing investor Formation 8 and several prominent families and venture capitalists. Zanbato will use the proceeds to further develop its data and technology practice and to expand its footprint in private financial markets.
“Given the importance of private capital flows in today’s financial landscape, it is remarkable that private placement processes remain largely untouched by technological advancement. At Zanbato we see a path towards remedying that,” said Nico Sand, Zanbato Chief Executive Officer. “Our mission lies at the intersection of building elegant, intuitive technology and supporting the world’s largest and most sophisticated investors. With our global network of partners and clients, we feel that we are well positioned to provide efficiency gains and reduce fragmentation in private market operations.”
Zanbato has taken a user-centric approach to developing workflow management tools for private placement professionals. The company’s private label platforms are used by Broker-Dealers, Fund Managers, Private Wealth Managers, and Co-Investment Networks to manage the distribution and placement of private offerings to their clients, who include large institutional allocators such as Sovereign Wealth Funds, Foundation/Endowments, and Pensions, as well as Family Offices and High Net Worth Individuals.
“Zanbato is applying new Silicon Valley insights to private markets and institutional investing. By focusing on technology to enable data-driven insights and aligning with long-standing, influential players in the market, Zanbato platforms and the networks they enable have the potential to dramatically improve private financial markets – and help global finance become more data-driven,” said Joe Lonsdale, Zanbato Chairman. “Creating efficiencies in private markets is a huge win for the economy. I’m proud to be part of the mission.”
“With our deep experience with family offices within AITV, we’ve encountered firsthand the complexities and difficulties surrounding private placements,” said Bill Malloy, founding general partner at AITV. “Zanbato’s platform brings the entire private placement process into the 21st century, we use it adamantly at the firm; it’s quite literally the best experience for private investing.” AITV plans to utilize its extensive network in Europe and the Middle East to support Zanbato’s international expansion and commercialization into additional private financial markets.