US fintech Clear Street bags additional $270m in Series B funding
New York-based fintech Clear Street has secured $270 million from Prysm Capital in a continuation of its Series B funding round.
Clear Street raises additional $270m
The new cash injection takes the firm’s total Series B to $435 million following an initial $165 million raise in May last year. The latest investment now values the firm at $2 billion.
Founded in 2018, Clear Street offers a cloud-based prime brokerage platform which enables institutional investors to trade US equities and stock options.
The company aims to replace legacy infrastructure across capital markets and improve “speed, access, and service” for its clients. Its first product, an equity finance platform, processes over $10 billion worth of transactions every day.
With the fresh funding, Clear Street plans to expand across new markets and asset classes, accelerate the development of future product offerings, and onboard more clients looking to migrate to a single-source platform.
Chris Pento, co-founder and CEO of Clear Street Group, claims the company has increased the number of institutional clients on its platform by 500% and its daily transaction volume by over 300% in the past year.
