SIMON raises $100 million for Digital Wealth Management Platform

By Leandra Monteiro

SIMON Markets LLC, a FinTech company transforming the digital wealth management landscape through its platform for financial professionals, and which makes risk-managed and alternative investment solutions broadly available, has closed the first leg of a strategic financing round of up to $100 million of growth capital.

The Series B round is led by WestCap, a growth equity firm founded by Laurence Tosi, former CFO of Airbnb and Blackstone, known for investments backing market tech-enabled, asset-light companies. Existing investors also are participating in the round.

SIMON’s technology streamlines the work of financial professionals, enabling them to explore alternative investment solutions and address historical impediments by using an intuitive and easy-to-use platform. This funding round enables SIMON to further advance its core offering across structured investments and annuities, while driving additional growth initiatives centered on product and geographic expansion.

“Through our seamless user experience, SIMON provides financial professionals and their clients access to markets and products that carry a number of differentiated and value-added characteristics, and this funding will only help further our mission,” said Jason Broder, CEO of SIMON. “By combining WestCap’s experience and expertise, along with SIMON’s strength in innovative wealth management technology, we have successfully embarked on the next phase of widening the spectrum of financial opportunities for investors.”

“We are excited to partner with SIMON’s visionary leadership team as they are successfully reimagining how wealth management should work,” said Kevin Marcus, Partner of WestCap. “The strength of their technology and the experience they’ve built is positioning SIMON as a preferred fintech platform for financial advisors. SIMON offers powerful and differentiated fintech solutions that provide immense growth and scalability opportunities while driving democratization of these product segments, and we’re excited to help.”