The fresh infusion of capital will allow Simon to further enhance its core offering across structured investments and annuities. Credit: Priscilla Du Preez on Unsplash.

Wealth management platform Simon Markets, which spun out of Goldman Sachs in 2018, has closed the first tranche of a strategic financing round of up to $100m.

The Series B round is led by WestCap with participation from existing investors.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Simon enables financial professionals to explore alternative investment solutions and address historical impediments via its platform.

The fresh infusion of capital will be used by the firm to further enhance its core offering across structured investments and annuities.

It will also be used to fund growth initiatives focused on product and geographic expansion.

Simon CEO Jason Broder said: “Through our seamless user experience, Simon provides financial professionals and their clients access to markets and products that carry a number of differentiated and value-added characteristics, and this funding will only help further our mission.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“By combining WestCap’s experience and expertise, along with Simon’s strength in innovative wealth management technology, we have successfully embarked on the next phase of widening the spectrum of financial opportunities for investors.”

Simon’s platform delivers a full digital suite of tools to more than 100,000 financial professionals, who serve $5 trillion in client assets.

WestCap partner Kevin Marcus said: “We are excited to partner with Simon’s visionary leadership team as they are successfully reimagining how wealth management should work.

“The strength of their technology and the experience they’ve built is positioning Simon as a preferred fintech platform for financial advisors. Simon offers powerful and differentiated fintech solutions that provide immense growth and scalability opportunities while driving democratisation of these product segments, and we’re excited to help.”

As part of the financing round, WestCap partner and former Ipreo president and COO Kevin Marcus is joining Simon’s board of directors.

Last November, WestCap led a $117m Series E financing round for wealth management platform Addepar.