The firm is designing multiple new products and services to address capital markets constraints on under-utilised capital, initially in equities and foreign exchange, and has been hoovering up top talent from across the industry since its launch in two years ago.

Since the introduction of its proprietary platform, Capitolis now has over 50 financial institutions live on its system, that have recorded transaction volumes of $1.5 trillion notional.

The latest funding round brings the total capital raised to date to $70 million, and will be dedicated to an upgrade of its technology platform, functionality and product offering.

Gil Mandelzis, CEO of Capitolis says: "Capitolis’ technology has already eliminated trillions of dollars of transactions notional to date, and with the new investments from Spark and SVB Capital, development is underway to expand the functionality and platform further.”

The company currently has 55 employees in New York City, London and Tel Aviv.

Tom Glocer, executive chairman, is bullish about the company's future prospects: “We now have the funding, the management team, and the core customer adoption to grow Capitolis into a major industry infrastructure and force.”