Appital raises £1.7m from Frontline Ventures and angels to support its upcoming platform launch.
Frontline Ventures and angel investors backed the latest financing round.
£1.7M
Appital operates an equity capital marketplace designed to bring automation and technological innovation to financial markets. The platform enables institutional investors to discover liquidity and manage bookbuilding processes.
Appital has secured £1.7m in fresh funding from Frontline Ventures and a selection of angel investors. The capital arrives ahead of the company releasing its algorithmic bookbuilding platform in collaboration with Turquoise. The latest investment builds upon a previous £2.5m round and brings the total amount raised by the business to £4.9m.
From the founder
"This is a very exciting time for our business. In the run-up to our launch we have forged partnerships and built technology infrastructure to support a new buyside workflow, giving firms control over their bookbuilding processes and bringing a highly manual activity into an automated, algorithmically driven platform."
MB
Mark Badyra
Chief Executive Officer at Appital
Investor perspective
"We are very happy to extend our funding to Appital ahead of its launch. Appital has a proven track record in securing partnerships with major EMS providers, executing brokers and a trading venue to address the lack of efficiency and control over existing bookbuilding and deal distribution processes. Their traction with global asset management firms is clear evidence of the need for their innovative solution for equity markets. We are delighted to back Appital’s vision."
Shay Garvey
Founding Partner, Frontline Ventures