Capitolis valuation 2026: $1.9B after a $220M Series E funds the eSecLending acquisition. Capitolis is worth $1.9 billion after a $220 million financing split between Series E equity and acquisition debt - funding a bet that its bank-customers-turned-investors will keep paying for balance-sheet optimization. Editor-in-chief: Trace Cohen - Angel investor, VC, family office, operator and founder · 3x founder (BrandYourself, Launch.it, SPOT) · 65+ investments 65+Investments 3xFounder $200M+Funds Tracked Quick Answer $1.9 billion is Capitolis's new valuation after the New York fintech raised $220 million on October 6, 2026 - $120 million in Series E equity led by Citi, plus roughly $100 million in acquisition debt - to fund its purchase of securities-lending firm eSecLending. That's up from the $1.6 billion valuation Capitolis set in its March 2022 Series D. Capitolis is now valued at $1.9 billion after raising $220 million on October 6, 2026 - $120 million in Series E equity led by Citi, plus roughly $100 million in debt - to fund its acquisition of securities-lending firm eSecLending, according to FX News Group. Capitolis is a New York-based fintech, founded in 2017, that helps banks and other institutional capital-markets participants free up the regulatory capital they have to hold against trading positions. Read the full writeup of the round on Value Add VC's Pulse. Capitolis valuation 2026: an acquisition round, not a markup. Capitolis's $1.9 billion valuation is about 19% above the $1.6 billion it was worth after its March 2022 Series D, per Bloomberg and Globes. That is a modest four-year markup by venture standards, and it is not really the point of this round: CEO Gil Mandelzis framed the financing around funding the eSecLending acquisition, not a valuation reset. Capitolis disclosed the acquisition price separately: eSecLending is coming over in a $200 million all-cash deal from seller Parthenon Capital, announced September 29, 2026 - a week before the $220 million financing - according to Markets Media. It is Capitolis's fourth strategic acquisition in five years. Parthenon Capital is also investing in Capitolis as part of the same transaction, though neither company has disclosed the size of that stake, so there is still no way to independently verify whether the combined deal - a $200 million purchase funded by $220 million of new financing, with the seller rolling some proceeds back into equity - is a bargain roll-up or an expensive bolt-on. How the $220 million splits between equity and debt. Unlike Capitolis's three prior rounds, which were straight equity, this financing pairs $120 million of Series E equity with roughly $100 million of acquisition debt from First Citizens Innovation Banking (formerly Silicon Valley Bank), Hercules Capital, and Pinegrove Venture Partners. That structure is a tell: Capitolis is managing dilution more carefully as it scales through M&A rather than funding growth with equity alone. Who's on Capitolis's cap table - and why most of them are also customers. The unusual part of Capitolis's cap table is that nearly every equity investor in this round is also a customer. Citi, JPMorgan, State Street, and UBS have each backed Capitolis across multiple rounds dating back to at least the 2022 Series D. | Investor | Type | Status | | Citi | Equity (lead) | Existing customer-investor | | Bank of America | Equity | New strategic investor | | Nomura | Equity | New strategic investor | | Tradeweb Markets | Equity | New strategic investor | | Barclays | Equity | Existing investor | | BNP Paribas | Equity | Existing investor | | JPMorgan | Equity | Existing customer-investor | | State Street | Equity | Existing customer-investor | | UBS | Equity | Existing customer-investor | | Parthenon Capital | Equity (undisclosed size) | eSecLending seller, rolling into Capitolis | | First Citizens Innovation Banking | Debt | New lender | | Hercules Capital | Debt | New lender | | Pinegrove Venture Partners | Debt | New lender | +19% vs. 2022 New Valuation Oct 6, 2026 Total Financing Led by Citi Series E Equity Prior Valuation (2022) What the headline misses. Capitolis disclosed the $200 million acquisition price, but not eSecLending's revenue or the size of Parthenon Capital's roll-over stake - so the deal's actual return multiple for Parthenon, and whether Capitolis overpaid, both stay unverifiable from what's public. There is also a concentration risk baked into the operating model: if Capitolis's growth depends on a cluster of roughly eight bank-investors repeatedly re-upping and steering business its way, a pullback from any one of them would show up directly in both its revenue and its cap table. One read on this: the real diligence question for anyone evaluating Capitolis isn't the headline valuation - it's whether the company starts disclosing target-level financials on its next bolt-on now that it is four acquisitions into a five-year run. Capitolis is proof that selling to banks as both customers and investors can fund acquisitions, not just organic growth - as long as the product keeps saving those banks real capital. Track fintech funding rounds on the Funding Tracker at Value Add VC. Originally published in the Trace Cohen newsletter. Latest from the Pulse. Get VC data most people never see - free to subscribe Trace's notes on venture, AI and startups, a few times a week. Join 5,000+ subscribers. No spam.

Capitolis completes $220m financing led by Citi to fund eSecLending deal. 6 Oct 2026, Capitolis has completed $220m of financing, with Citi leading a $120m Series E equity round, to fund its $200m eSecLending purchase and add securities lending to its financial resource optimisation platform. Capitolis has completed $220m of financing, anchored by a $120m Series E equity round at a $1.9bn valuation, the company said today. A Series E is a late-stage venture funding round. The package also includes debt, and the proceeds support Capitolis' $200m purchase of eSecLending. Capitolis says it works with banks and financial institutions on funding, capital and balance-sheet challenges through its Capital Marketplace and Portfolio Optimization businesses. It announced the acquisition of 20 Gates in February 2026. Citi, an existing investor, led the equity round. Bank of America, Nomura and Tradeweb Markets joined as new strategic investors, meaning backers with a commercial interest in the business as well as a financial one. Existing shareholders Barclays, BNP Paribas, J.P. Morgan, State Street and UBS also took part, alongside additional existing and new financial investors. The debt came from First Citizens Innovation Banking, formerly Silicon Valley Bank, Hercules Capital and Pinegrove Venture Partners. Capitolis announced last Tuesday that it would buy eSecLending for $200m in cash from Parthenon Capital and management. It is the company's fourth strategic acquisition in five years. The deal has not closed: it is subject to regulatory approvals and antitrust clearance, and eSecLending (Europe) Limited is excluded. The purchase adds securities lending, where holders lend shares or bonds to borrowers for a fee, and access to institutional asset owners. The combined offering spans securities lending, repo and financing markets. With eight banks and Tradeweb Markets now holding equity, banks and prime brokers may route more funding and financing optimisation through one vendor, and brokers dealing with them may meet Capitolis more often. Serene Murphy, Global Head of Corporate Development at Tradeweb Markets, tied the investment to electronification, the move of trading from manual processes to electronic platforms: Securities lending represents the next frontier in the electronification Leaprate has seen across its markets Serene Murphy, Global Head of Corporate Development, Tradeweb Markets Siris Singh, Global Head of Markets Strategic Investments at Citi, said Citi was pleased to have led a round that brought together a group of strategic investors in support of Capitolis' next phase. Gil Mandelzis, Capitolis' founder and chief executive, said the financing will enable the eSecLending acquisition, expanding capabilities and client network as the company addresses the industry's evolving financial resource optimisation needs, meaning the efficient use of capital, funding and balance sheet.

Capitolis, a fintech developing technology for banks and financial institutions, has raised $220 million in new financing, comprising a $120 million Series E equity round and debt financing. The equity round values the company at $1.9 billion, up from $1.6 billion in 2022. The round was led by existing investor Citi and included new strategic investors Bank of America, Nomura, and Tradeweb Markets. Existing investors Barclays, BNP Paribas, J.P. Morgan, State Street, and UBS also participated. Founder and CEO Gil Mandelzis said most funds will support Capitolis' recent acquisition of eSecLending, which expands the company into securities lending. Capitolis operates across Capital Marketplace and Portfolio Optimization businesses, helping financial institutions optimise resources and improve market efficiency.