Capital Markets Gateway gets its way with $7.5m funding
Capital Markets Gateway (CMG), a fintech offering an integrated digital workflow and analytics platform for capital markets professionals, has closed a $7.5 million Series A funding round.
StageDotO led the round, with additional participation from Franklin Templeton, Shea Ventures and CMG co-founder and CEO Greg Ingram.
The round brings CMG’s total funding to date to $11 million.
“There is tremendous opportunity within capital markets to streamline processes that historically have been cumbersome and inefficient,” says Mike Self, general partner at StageDotO. “CMG is filling a gap in the market with access to real-time data, analytics and communications functions that improve the speed and accuracy of decision-making.”
CMG’s co-founders – Greg Ingram, Mike Wilcox and Stamo Hadjiyski – say they have developed a solution in response to the shortcomings of the current capital raising.
Greg Ingram, co-founder and CEO of CMG, says: “This investment will enable us to scale our technology and accelerate new product initiatives to bring improved communication and connectivity to even more financial practitioners.”
This solution includes workflow management and real-time data analytics for practitioners throughout the capital markets trading life cycle – including banks, asset managers and broker dealers – to improve transparency and connectivity between investors, issuers and underwriters.
Ben Batory, SVP, head of Franklin Equity Group Trading at Franklin Templeton, adds: “CMG understands the pain points of the capital raising process and have created a solution that eliminates inefficiency and improves collaboration.”
CMG has appointed former IHS Markit executive Michele Trogni as chair of the board and former Thomson Reuters Enterprise Division CTO David Kelly as chief technology officer.
Prior to joining Markit in 2013, Trogni spent 25 years with UBS, the global wealth management and banking firm. Most recently, she served as the bank’s group CIO and head of operations.
Kelly was partner, CIO and Co-COO of Pine River Capital Management prior to joining CMG, where he oversaw the platforms responsible for all of Pine River’s trading systems.