New York fintech firm iCapital Network valued at over $6bn after WestCap led funding



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New York fintech firm iCapital Network valued at over $6bn after WestCap led funding

Later this week, iCapital Network, Inc., a New York-headquartered American multinational alternative investment analytics platform, had issued a statement saying that the financial technology firm had been valued at more than $6 billion in less than eight years since its inception following a latest funding round led by private equity firm WestCap.

Aside from that, iCapital was quoted saying in the statement that its latest fundraising campaign what had raised a stark upsum of $50 million, involved blue-whale venture capitalist firms such as Apollo Global Management alongside Temasek apart from WestCap.

On top of that, latest WestCap-led iCapital funding campaign came against the backdrop of a Temasek-led funding round back in July this year which had raised a whacking $440 million in fresh capitals, while big-league US lenders like of Wells Fargo, Morgan Stanley alongside Goldman Sachs Asset Management had participated in the fundraising campaign, valuing the financial technology platform at $4 billion.

Followed by the announcement, a spokesperson for iCapital was quoted saying that the fintech startup was looking to capitalize an injection of fresh liquidities that was raised at its latest funding campaign to pursue potential acquisitions, while the firm had plans to span its existing features on the platform.

iCapital valued over $6 billion after latest funding round

Having been founded back in the 2013s, iCapital platform offers wide-ranging services in alternative investment marketplace to a swathe of sectors like of wealth management, asset management alongside banking among others.

Nevertheless, the New York-based fintech platform provider is mostly focused on providing its clients with a whirlpool of comparative data on investment funds alongside other assets.