Provable Markets is a technology company.
Provable Markets has raised $8.0M across 1 funding round.
Provable Markets has raised $8.0M in total across 1 funding round.
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 in total across 1 funding round.
Provable Markets's investors include Eight Roads Ventures, F-Prime Capital Partners, INKEF Capital, Two Sigma Ventures.
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 |
|---|---|---|---|
| May 1, 2024 | $8.0M Series A | Eight Roads Ventures, F-Prime Capital Partners, INKEF Capital, Two Sigma Ventures |