Appital, Equity Capital Marketplace, announced that it has secured an additional £1.7m investment from Frontline Ventures and various angel investors to bring technological innovation and automation to equity markets. The investment follows last year’s £2.5m round led by Frontline Ventures and additional funding from angel investors, bringing the total investment raised to date to £4.85m. pound sterling. This precedes the launch of the world’s first algorithmic bookbuilding platform in partnership with Turquoise, the pan-European MTF, majority owned by the London Stock Exchange Group.
Delighted to announce that we have secured an additional £1.7m investment from @FrontlineVC to bring technological innovation and automation to stock marketshttps://t.co/pTLYr6EASt #fintech #investment pic.twitter.com/eQ3qn0nGQn
— Appital (@AppitalHQ) August 9, 2022
The Apppital platform enables the buyside community to create and participate in ADV liquidity discovery, price formation and multi-day execution opportunities on publicly traded stocks. For the first time, institutional investors benefit from full transparency and maximum control over the bookmaking and trade distribution process, and can actively generate market liquidity.
The latest funding follows the successful integration with EMS providers FactSet, FlexTrade and TS Imagine, and execution brokers Bernstein and Instinet, in anticipation of the imminent launch of Appital. Through the partnership with Turquoise, buyside firms will be able to execute all transactions through the Turquoise MTF, via a single access point and with seamless straight through processing (STP) to over 20 settlement locations. These are all crucial steps in developing the technology and market infrastructure needed to bring Appital’s innovative bookbuilding platform to equity market participants.
Shay Garvey, founding partner of Frontline Ventures, commented“We are very pleased to extend our financing to Apppital ahead of its launch. Apppital has a proven track record of securing partnerships with leading EMS providers, execution brokers and a trading platform to address the lack of efficiency and control over existing bookbuilding and distribution processes. transactions. Their traction with global asset management firms is clear evidence of the need for their innovative stock market solution. We are delighted to support Appital’s vision.
Mark Badyra, Managing Director of Appital, said“This is a very exciting time for our business. In the lead up to our launch, we have forged partnerships and built the technology infrastructure to support a new buy-side workflow, giving businesses control of their book building processes and integrating highly manual activity into one platform. automated and driven by algorithms.
Badira added“We are delighted to have secured additional investment from Frontline Ventures and our group of angel investors. Additionally, we are very encouraged by the market response to our vision to provide buyside companies with new opportunities to grow. Proactively source and interact with hard-to-find cash.
Over 30 asset managers, collectively managing over US$30 trillion, have joined or are in the process of joining Apppital. In addition, Apppital proactively engages with other global, regional and specialist asset managers to increase the depth of available opportunities and liquidity within the platform.