FinTech platform company iCapital Network announced that it has grabbed over $50 million in its latest funding round. The funding round for iCapital Network was led by WestCap and included participation from venture capital firms Temasek and Apollo Global Management.
Headquartered in New York, iCapital Network is a financial technology firm focused on empowering an alternative investment marketplace in the world.
iCapital Network’s valuation raises to $6 billion
After its latest round of funding in December, the valuation of iCapital Network has crossed $6 billion. Earlier in July 2021, the fintech company bagged a whopping $440 million in capital, in a funding round that was led by Temasek. New investors, like Owl Rock, and existing investors, like Wells Fargo, Goldman Sachs Asset Management, and Morgan Stanley, also participated in the July funding round.
The $440 million that was provided in funding to iCapital was provided after valuing the firm at approximately $4 billion. iCapital said the company aims at using the freshly raised funds for expansion of its existing features on the platform and pursuing acquisitions of companies with similar goals and values. The company’s list of existing venture capital investors also includes private equity firms, like KKR & Co Inc, Blackstone, and Carlyle Group.
About iCapital Network
iCapital Network was established in the year 2013 in New York, United States. It offers world-class services in the “alternative investment marketplace” to organizations in the banking, asset management, and wealth management industries.
Their platform aims at transforming the way investments are done in the market through their technology-based solutions for advisors and their high-net-worth clients, asset managers, and banks.
The New York-based company’s platform is majorly primarily by wealth managers across the globe to offer their clients comparative data on high-quality, promising funds as well as other forms of assets for making investments.
iCapital Network has a presence in North America (New York City, Greenwich, Boston, Toronto, and Princeton), Europe (London, Zurich, and Lisbon), and Asia (Hong Kong and Singapore).
iCapital Network has received many awards and recognition not just for its platform but also for its culture. In November 2021,
Additionally, the company has been listed in the 2021 Forbes Fintech 50 (a list that honours organizations transforming financial services viz-a-viz technology), marking the fourth consecutive year that Forbes has recognized iCapital as an innovator.
Moreover, the company has also named “One of America’s Best Startup Employers” by Forbes in 2021. The list recognized iCapital Network for its culture, corporate reputation, business growth as well as employee satisfaction. it was named “Solutions Provider of the Year” in 2021 MMI/Barron’s Industry Awards for the 2nd consecutive term.
For more latest news and updates, keep reading iTMunch
Image Courtesy: Image by rawpixel.com