Total amount raised
$100 Millions
Latest funding date
02/01/2022
Location
SIMON has successfully raised funds through multiple rounds, with notable investors including Citi and WestCap. The platform focuses on providing financial professionals with tools for structured investments.
Keep reading to explore the intricacies of SIMON's fundraising journey and the investors backing this innovative platform.
What Is SIMON?
SIMON, founded in December 2018, is a fintech company based in New York City. The platform specializes in providing financial professionals with tools for structured investments, focusing on finance, financial services, and impact investing.
With a team of 51-100 employees, SIMON has carved out a niche in the financial technology sector. The company was acquired by iCapital Network in May 2022, further expanding its reach and capabilities in the industry.
How Much Funding Has SIMON Raised?
- Corporate Round
- Amount Raised: Not publicly disclosed
- Date: February 2022
- Lead Investors: Citi
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen strategic partnerships and enhance the platform's capabilities.
- Series B
- Amount Raised: $100M
- Date: July 2021
- Lead Investors: WestCap
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand core offerings in structured investments and annuities, and support global expansion.
Total Amount Raised: $100M. Current Valuation: Not publicly disclosed.
Key Investors
- Citi
- Details: Citi is a leading global bank with approximately 200 million customer accounts and operations in more than 160 countries and jurisdictions.
- Investment Focus Areas: Financial services, technology, infrastructure
- Notable Investments: Betterment, Square, Plaid
- WestCap
- Details: WestCap is a growth equity firm that partners with visionary leaders to build generational companies. It was founded by Laurence Tosi, former CFO of Airbnb and Blackstone.
- Investment Focus Areas: Fintech, real estate, consumer technology
- Notable Investments: Airbnb, StubHub, iCapital Network
- Barclays
- Details: Barclays is a British multinational investment bank and financial services company headquartered in London. It operates in over 40 countries and employs approximately 83,500 people.
- Investment Focus Areas: Banking, investment management, credit cards
- Notable Investments: MarketInvoice, Finexkap, Rainmaking
- HSBC
- Details: HSBC is one of the world's largest banking and financial services organizations, serving more than 40 million customers through its global businesses.
- Investment Focus Areas: Banking, wealth management, insurance
- Notable Investments: Tradeshift, Ayoconnect, WeLab
- J.P. Morgan
- Details: J.P. Morgan is a global leader in financial services offering solutions to the world's most important corporations, governments, and institutions.
- Investment Focus Areas: Investment banking, asset management, private banking
- Notable Investments: Robinhood, Toast, Plaid
What's Next for SIMON?
SIMON is poised for significant growth, with opportunities to expand its core offerings in structured investments and annuities. The platform, already serving over 100,000 financial professionals managing $5 trillion in client assets, aims to drive product development and global expansion. This growth is bolstered by the recent $100 million Series B funding round led by WestCap.
Future fundraising opportunities seem promising, given the successful Series B round and the involvement of high-profile investors. SIMON may pursue additional funding to support further growth and expansion. However, the company will need to navigate challenges such as competition from other fintech firms and regulatory hurdles in different markets.
Use Clay to Get Funding Data
Sales professionals, leverage Clay’s platform to access comprehensive fundraising data on companies like SIMON and gather other critical business insights. Sign up for free to start transforming your sales strategy today.
