Globacap, a London-based online platform that automates private capital markets, empowering companies to grow more efficiently, has secured $9 million (approx £6.5 million) funding in Series A round.
Who backed Globacap?
The round was led by the Johannesburg Stock Exchange (JSE), Africa’s largest stock exchange, with participation from Moore Strategic Ventures, the privately held investment company for Louis Bacon, Founder, and CEO of Moore Capital Management.
The funding will be used to assist with the roll-out of its first in the class digital platform.
Partners with JSE
Furthermore, the JSE and Globacap have also entered into a commercial agreement to launch two private placement platforms in Africa later this year. The first is to digitise investment into infrastructure projects, and the second for investment into SMEs.
Founded in 2017, Globacap provides digital tools to raise capital, administrate capital, and facilitate and settle secondary liquidity nearly instantaneously. Regulated by FCA, over $3 billion (approx £2.1 billion) of private shares and debt instruments are digitally administered on its platform for 60 companies and over 8,000 shareholders and debt investors.
Myles Milston, CEO at Globacap, comments: “The world is going digital. In the same way, smartphones have transformed the way we live our lives, from navigating to ordering food, our tech has brought private capital markets into the digital era. This is not only transformational, it’s also a trillion-dollar market opportunity. The involvement of this calibre of investors showcases the appetite for digitization, and the belief in our platform. With this investment, we are excited to scale our brand and show its ability to change the way the capital markets world works.”
Leila Fourie, CEO at JSE added “We believe that this partnership will transform the African economic landscape by increasing levels of efficiency and allowing businesses access to capital for future growth. Using Globacap’s technology we will digitally transform capital raising for infrastructure and business sectors, as well as stimulate growth across Africa. We’re delighted to be part of Globacap’s growth.”
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