SIMON raises $100 million

New York-based online distribution platform for financial professionals that focuses on structured investments SIMON has raised $100 million in a Series B funding round led by WestCap, a growth equity firm founded by Laurence Tosi, former CFO of Airbnb and Blackstone. Existing investors also participated in the round.

SIMON’s platform streamlines the work of financial professionals, enabling them to explore alternative investment solutions and address historical impediments. This funding round enables SIMON to further advance its core offering across structured investments and annuities, while driving additional growth initiatives centered on product and geographic expansion.

“Through our seamless user experience, SIMON provides financial professionals and their clients access to markets and products that carry a number of differentiated and value-added characteristics, and this funding will only help further our mission. By combining WestCap’s experience and expertise, along with SIMON’s strength in innovative wealth management technology, we have successfully embarked on the next phase of widening the spectrum of financial opportunities for investors.” – Jason Broder, CEO of SIMON.

“We are excited to partner with SIMON’s visionary leadership team as they are successfully reimagining how wealth management should work. The strength of their technology and the experience they’ve built is positioning SIMON as a preferred fintech platform for financial advisors. SIMON offers powerful and differentiated fintech solutions that provide immense growth and scalability opportunities while driving democratization of these product segments, and we’re excited to help.” – Kevin Marcus, Partner of WestCap.

Additionally, WestCap Partner and former Ipreo President and COO Kevin Marcus is joining SIMON’s Board of Directors.