$8 million in Series A investment was secured by Provable Markets, a front-, middle-, and back-office technology solutions provider for Securities Finance with offices in NYC and Amsterdam, Netherlands.
Investors
- Dialectic Capital Management
- Anthemis
- Inkef Capital
Dialectic Capital Management founder John Fichthorn will join the board of directors, which during the last year has also welcomed independent directors Derek Penn and Steve Greenblatt, two industry pioneers.
Use of funds
The money will be used by the business to expand its network and product line.
About Provable Markets
Provable Markets, under the direction of CEO Matt Cohen, focuses on market structure and draws on subject matter expertise from its staff members’ experiences in the development of electronic trading in stocks. The first open source API library for the securities lending markets and the platform’s capacity to route orders to all participant types improve its direct venue to settlement connection. Through its SEC-registered alternative trading system (“ATS”), customers can engage in cleared and non-cleared securities lending transactions with real-time lifecycle management and settlement messaging to the depository trust company (“DTC”) that is handled as continuous open interest.
“In many ways, it is the first of the traditional capital markets ecosystems that rely on T-0, real-time settlement. Our platform is made to function both freely and inside the boundaries of the current setup, giving it greater flexibility to handle this dynamic execution and post-trade connection.”
Matt Cohen
