Fintech Firm Monark Raises $8.1M
Monark Markets, a New York-based fintech company, has raised $8.1 million in a strategic funding round. The company is building infrastructure to connect brokerage firms and wealth platforms to private markets. The new capital will be used to accelerate distribution partnerships and expand product coverage.
- The latest funding round was led by F-Prime, with participation from The Treasury, Commerce Ventures, Grit Capital Partners, and BBAE Holdings. - Prior to this, Monark had raised a total of $3.6 million, including a $2.2 million seed round in October 2024 with investors like Garuda Ventures, K50 Ventures, and Grit Capital Partners. - The company was founded in 2021 by Ben Haber, Caleb Benedict, and Paul Davis. - Monark's business-to-business model provides API infrastructure for retail brokerages and wealth management firms to offer private market investments to their clients. - Through its API-first infrastructure, Monark has partnerships with platforms like Apex Fintech Solutions, Altruist Financial, and BBAE, which collectively reach over 30 million retail investors. - In May 2023, Monark acquired the software and legal intellectual property of LEX Markets, a company that had previously raised $27 million from investors. - Monark operates a subsidiary, MMM Securities LLC, which is a FINRA-approved broker-dealer, allowing it to operate an alternative trading system. - The company's platform enables investments in pre-IPO companies and evergreen funds from alternative asset managers, with plans to make shares in companies like SpaceX and Stripe available with minimums as low as $5,000.
