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§ Private Profile · 200 Vesey St, 24th Floor, New York, NY 10282, US
Provable Markets is a technology company.
Provable Markets provides trading and trade management solutions tailored for the securities lending market. Its SEC Registered Alternative Trading System, Aurora, operates on a cloud-native platform, offering an automated matching engine, comprehensive post-trade lifecycle management, and seamless straight-through processing. This technology aims to enhance efficiency, reduce operational complexities, and support all front, middle, and back office functions for market participants.
The company was co-founded by CEO Matt Cohen and CTO Ruben de Vries, emerging from a clear recognition that the securities lending industry required significant modernization. Leveraging their extensive expertise as financial market veterans and expert engineers, the founders sought to develop innovative technological solutions specifically to address critical operational inefficiencies and optimize capital utilization for industry participants.
Market participants rely on Provable Markets to strengthen their trading and operational capabilities. The company envisions empowering clients with integrated solutions that not only improve counterparty risk profiles but also foster business growth and maximize overall market efficiency. Their steadfast commitment lies in driving innovative and precise advancements across the financial markets.
Provable Markets has raised $8.0M across 1 funding round.
Provable Markets has raised $8.0M in total across 1 funding round.
Provable Markets has raised $8.0M in total across 1 funding round.
Provable Markets's investors include John Fichthorn, Eight Roads Ventures, F-Prime Capital Partners, INKEF Capital, Two Sigma Ventures, Anthemis.
Provable Markets is a New York-based fintech company providing a comprehensive, cloud-native platform for securities lending and financing transactions, including the Aurora Marketplace™ for real-time order matching and Aurora Trade Manager™ for automated lifecycle management across front, middle, and back offices.[1][2][4] It serves securities lenders, borrowers, and synthetic traders by solving inefficiencies like information leakage, operational breaks, reconciliation delays, and counterparty risks through encrypted matching, straight-through processing (STP), and connectivity to NSCC CCP, DTC, and third-party systems.[1][2][3] The platform is SEC-registered as an Alternative Trading System (ATS), FINRA-compliant, and 10c-1a approved, enabling efficient trading, risk reduction, and capital optimization in the underserved securities finance market.[1][7]
Growth momentum includes FINRA broker-dealer approval, partnerships like BetaNXT for integrated wealth tech access, and expansion from encrypted block trading to a full-stack ATS, attracting clients with centralized order books and automation.[2][5][7]
Provable Markets originated from Provable Labs, founded in early 2018 by Thomer Gil, an MIT computer science graduate with prior startup successes, inspired by Harvard research on secrecy-preserving computation like secure multi-party computation (MPC).[2][3] Initially focused on an equity block trading tool using MPC for encrypted order matching to prevent pre-trade leakage, the Amsterdam-based engineering team—led by CTO Ruben de Vries—pivoted to securities finance trading (SFT) after recognizing broader applications.[2][3]
In 2020, Matt Cohen joined as co-founder and CEO, shifting focus to build a vertically integrated ATS for securities lending, incorporating post-trade efficiencies like pre-matching and T+1 elimination.[2][3][4] Backed by founders' track record of billion-dollar exits and advisers, the company achieved FINRA membership and launched live products, evolving from crypto tech to full infrastructure amid market disruptions like Archegos.[2][3][7]
Provable Markets rides the securities finance modernization wave, addressing fragmented, inefficient markets vulnerable to shocks like Archegos or GME through crypto-inspired privacy tech and ATS models borrowed from equities.[2][3] Timing aligns with SEC rules (e.g., 10c-1a, SEA 15c3-3) mandating better reporting and reserves, plus T+1 settlement pressures, favoring automated, CCP-cleared solutions that lower costs and risks.[1][6]
Market forces like rising demand for resilient funding, capital efficiency, and interoperability boost it; as an approved NSCC submitter post-Broadridge, it influences the ecosystem by standardizing SFT via collaboration, APIs, and direct access, potentially consolidating bifurcated workflows.[2][5]
Provable Markets is poised to scale as the go-to ATS for securities lending, leveraging engineering depth and partnerships to capture share in a market ripe for disruption.[2][5] Trends like AI-driven trading, further crypto integration in finance, and global T+1 adoption will amplify its MPC privacy and automation advantages, potentially expanding to adjacent funding classes.[3]
Its influence may evolve toward ecosystem orchestration, fostering interoperability and resilience, building on a foundation that turns cryptographic innovation into practical market infrastructure—proving that advanced tech can indeed transform opaque corners of finance.[1][2]
Provable Markets has raised $8.0M across 1 funding round. Most recently, it raised $8.0M Series A in May 2024.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| May 1, 2024 | $8M Series A | John Fichthorn | Eight Roads Ventures, F Prime Capital, INKEF Capital, TWO Sigma Ventures, Anthemis | Announced |