Clear Street, a New York-based independent prime broker, received a $270M investment from Prysm Capital.
The investment is the second tranche of a $435M Series B funding and values Clear Street at $2.0 billion. It includes support from their diverse institutional investor base, including public pension funds and endowments.
The company intends to use the funds to support geographic expansion, increase client offerings, and improve access for market participants.
Founded in 2018 and led by CEO Chris Pento, Clear Street is an independent, non-bank prime broker which has built a proprietary, cloud-native, clearing and custody system to replace the legacy infrastructure used across capital markets – improving speed, access, and service for its clients. Its first product is its equity finance platform, which processes over $10 billion in trades every day.
In 2022, Clear Street expanded its sales and engineering teams adding Wall Street industry veterans to advance its rapid growth strategy. The company launched capital introduction and repo businesses, enhanced its securities lending capabilities, and updated and refined its client-facing position, risk, operations, and reporting portals.
This is the second investment in the company’s Series B led by Prysm Capital, It follows the Company’s first tranche of $165 million in May 2022, which included additional investors NextGen Venture Partners, IMC Investments, Walleye Capital, Belvedere, NEAR Foundation, McLaren Strategic Ventures, and Validus Growth Investors.
FinSMEs
12/04/2023