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§ Private Profile · New York City, NY, USA
Cloud-native capital markets technology for clearing, custody, execution, and prime brokerage for institutions, traders, and fintechs.
Founded in September 2018 by Chris Pento and Uriel Cohen, Clear Street is based in New York City and builds cloud-native technology infrastructure to modernize capital markets by providing clearing, custody, execution, and prime brokerage services. The financial technology firm serves approximately 700 institutional clients, processing roughly 550 million shares and $28.4 billion in notional value on a daily basis. Operating with a global workforce of over 700 employees, the company currently manages approximately $16 billion in total customer balances. Clear Street has raised $1 billion in total capital, reaching a $2.1 billion enterprise valuation in 2024 with backing from investors such as Prysm Capital and NextGen Venture Partners. The organization recently expanded its capabilities by launching an outsourced trading division led by a senior UBS hire and appointing Ed Tilly as incoming chief executive officer.
Clear Street has raised $440.0M across 2 funding rounds.
Clear Street has raised $440.0M in total across 2 funding rounds.
Clear Street has raised $440.0M across 2 funding rounds. Most recently, it raised $270.0M Series B in April 2023.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Apr 11, 2023 | $270M Series B | Matt Roberts | Belvedere Trading, OSI Lilian, McLaren Strategic Ventures, NEAR Foundation, NextGen Venture Partners, Validus Growth Investors, Walleye Capital | Announced |
| May 1, 2022 | $170M Series B | — | Creative Ventures, Redstone Road LLC, SID Venture Partners, Summit Partners, ED Brandler | Announced |
Clear Street has raised $440.0M in total across 2 funding rounds.
Clear Street's investors include Matt Roberts, Belvedere Trading, Osi Lilian, McLaren Strategic Ventures, NEAR Foundation, NextGen Venture Partners, Validus Growth Investors, Walleye Capital, Creative Ventures, Redstone Road LLC, SID Venture Partners, Summit Partners.
Clear Street is a New York-based financial technology and brokerage company founded in 2018 that builds a cloud-native, end-to-end capital markets platform to modernize the legacy infrastructure of the brokerage ecosystem.[1][2] It serves sophisticated institutional investors, emerging firms, market makers, futures clearing participants, and active traders by providing prime brokerage, execution, clearing, custody, security financing, and capital introduction across U.S. equities, options, fixed income, and futures, solving pain points like outdated mainframes, batch processing, and fragmented systems with real-time data, risk management, and scalability.[1][2][4] The platform supports ~700 institutional clients, ~$16bn in customer balances, ~$28.4bn daily notional volume, and 94% YoY transacted growth, backed by $1.0bn in capital raised and 700+ employees worldwide.[2]
Clear Street was founded in 2018 by leaders including Ed Tilly (CEO), who have direct experience with the challenges of legacy capital markets technology, driving a vision to replace it with a proprietary, cloud-native system.[1][2][7] The idea emerged from recognizing the need for a single, comprehensive platform handling all investor types and global asset classes, starting with an equity finance platform processing over $10bn in daily trades.[1] Early traction included rapid client growth, reaching hundreds of institutional clients and $50bn in balances by 2023; pivotal moments were the July 2023 acquisition of React Consulting Services and its BASIS futures clearing platform, April 2024 expansion into U.S. futures clearing led by Chris Smith, and a deal to acquire Instinet’s Fox River algorithmic trading business, fueling 500% client growth and 300% transactional volume surge by mid-2023.[1][4]
Clear Street rides the fintech trend of modernizing capital markets infrastructure, where legacy systems hinder efficiency amid rising volumes from quant funds, electronic trading, and multi-asset demands.[1][4] Timing is ideal post-2020s market digitization boom, with cloud/AI enabling leapfrogging incumbents constrained by decades-old tech; market forces like regulatory pushes for real-time clearing (e.g., T+1 settlement) and growth in alternatives/futures favor its scalable platform.[1][2] It influences the ecosystem by democratizing elite services for emerging managers, boosting liquidity via high-volume execution, and setting benchmarks—evidenced by 2024 awards—while acquisitions expand U.S. dominance in clearing and algos.[3][4]
Clear Street's trajectory points to global multi-asset dominance, with full BASIS integration, Fox River acquisition closure, and pushes into retail/low-latency options accelerating ~$30bn+ daily notional and client base beyond 700.[1][2][4] Trends like AI-driven risk tools, T+1 expansion, and crypto/derivatives inflows will amplify its edge, potentially capturing share from traditional brokers as volumes surge. Its influence may evolve from U.S. prime broker to full-stack global powerhouse, empowering more investors with cutting-edge tech and redefining brokerage scale.[2][3] This positions Clear Street as the modernization force it set out to be in 2018.[1]