Clear Street raises $270 Million at $2 Billion Valuation

Clear Street is a developer of modern infrastructure that offers a cloud-native platform to provide institutions with better capital market access. The company intends to continue that change across all capital markets, for every type of investor – institutions, active traders, market-makers, and fintech apps. Currently, Clear Street’s clients are about 200 institutional-sized investors and hundreds of smaller active trading entities.

Clear Street has raised $270 million in the second tranche of a Series B funding round, which has brought the company’s valuation to $2 billion. The funding round was led by Growth equity firm Prysm Capital, which brings the round total to $435 million. Clear Street raised the first tranche of the round in May of 2022 at a $1.7 billion valuation.

Clear Street, New York, United States, was founded in 2018 by Chris Pento and Sachin Kumar. The company’s mission is “to replace the outdated infrastructure being used across capital markets,” said Chris Pento, co-founder and CEO of Clear Street. “The public U.S. securities industry, which moves trillions of dollars a day, still relies on mainframe technology from the 1980s. These legacy systems are entrenched in manual processes and siloed data, resulting in costly errors and expensive technical debt,” he added. “For many firms, replacing these antiquated systems would be like removing the engine from a plane in mid-air. It’s time-consuming and difficult to execute with fragmented technology.”

Previous Post

CryptoGPT Raises $10 Million at $250 Million Valuation

Next Post

AlphaSense Raises $100 Million at $1.8 Billion Valuation

Related Posts