Monark Raises $8.1M for Private Market Infrastructure
What happened
New York-based fintech company Monark Markets has raised $8.1M in a strategic funding round. The company is building financial "rails" to connect brokerage firms and wealth platforms to private markets. The new capital will be used to accelerate distribution partnerships and expand its product offerings.
Why it matters
- The funding round was led by F-Prime Capital, with participation from The Treasury, Commerce Ventures, Grit Capital Partners, and BBAE Holdings. - Monark's API-first infrastructure provides "Alts-as-a-Service" (AaaS), allowing partners to embed private market investments directly into their existing platforms for a seamless customer experience. - The company was co-founded in 2021 by CEO Ben Haber, Paul Davis (CPO), and Caleb Benedict. - Through partnerships with platforms like Apex Fintech Solutions and Altruist Financial, Monark's technology can reach over 30 million retail investors with access to $450 billion in assets. - In May 2023, Monark acquired the technology and intellectual property from LEX Markets, a company that had previously raised $27 million from investors including Greycroft and Khosla Ventures. - The company's platform is designed to handle the entire lifecycle of alternative investments, including deal sourcing, compliance, subscription processing, and reporting, which traditionally involve manual processes like PDFs and emails. - Monark's offerings include access to pre-IPO companies and registered evergreen funds, with plans to expand into other assets like private equity, private credit, and real estate. - A key value proposition for brokerage platforms is the ability to increase revenue per user by offering private securities, an area where commissions have not been driven to zero as they have in public market stock trading.
Key numbers
- New York-based fintech company Monark Markets has raised $8.1M in a strategic funding round.
- The company was co-founded in 2021 by CEO Ben Haber, Paul Davis (CPO), and Caleb Benedict.
- Through partnerships with platforms like Apex Fintech Solutions and Altruist Financial, Monark's technology can reach over 30 million retail investors with access to $450 billion in assets.
- In May 2023, Monark acquired the technology and intellectual property from LEX Markets, a company that had previously raised $27 million from investors including Greycroft and Khosla Ventures.
What happens next
- In May 2023, Monark acquired the technology and intellectual property from LEX Markets, a company that had previously raised $27 million from investors including Greycroft and Khosla Ventures.
- Monark's offerings include access to pre-IPO companies and registered evergreen funds, with plans to expand into other assets like private equity, private credit, and real estate.
- The new capital will be used to accelerate distribution partnerships and expand its product offerings.
Quick answers
What happened in Monark Raises $8.1M for Private Market Infrastructure?
New York-based fintech company Monark Markets has raised $8.1M in a strategic funding round. The company is building financial "rails" to connect brokerage firms and wealth platforms to private markets. The new capital will be used to accelerate distribution partnerships and expand its product offerings.
Why does Monark Raises $8.1M for Private Market Infrastructure matter?
The funding round was led by F-Prime Capital, with participation from The Treasury, Commerce Ventures, Grit Capital Partners, and BBAE Holdings. Monark's API-first infrastructure provides "Alts-as-a-Service" (AaaS), allowing partners to embed private market investments directly into their existing platforms for a seamless customer experience. The company was co-founded in 2021 by CEO Ben Haber, Paul Davis (CPO), and Caleb Benedict. Through partnerships with platforms like Apex Fintech Solutions and Altruist Financial, Monark's technology can reach over 30 million retail investors with access to $450 billion in assets. In May 2023, Monark acquired the technology and intellectual property from LEX Markets, a company that had previously raised $27 million from investors including Greycroft and Khosla Ventures. The company's platform is designed to handle the entire lifecycle of alternative investments, including deal sourcing, compliance, subscription processing, and reporting, which traditionally involve manual processes like PDFs and emails. Monark's offerings include access to pre-IPO companies and registered evergreen funds, with plans to expand into other assets like private equity, private credit, and real estate. A key value proposition for brokerage platforms is the ability to increase revenue per user by offering private securities, an area where commissions have not been driven to zero as they have in public market stock trading.
