Provable Markets Raises Series B Funding Round Led By Charles Schwab, With Additional Participation By DTCC
Provable Markets, operator of the securities finance platform Aurora, has completed its Series B investment round. Charles Schwab led the round, with DTCC joining as a new investor, alongside participation from existing investors Dialectic Capital Management and Inkef.
The platform has posted new records for four consecutive quarters on its Alternative Trading System, processing more than $30 trillion in monthly order volume. Provable Markets facilitates end-to-end securities finance workflows through a cloud-native offering with connectivity to DTCC’s clearing agency subsidiaries, the OCC, and Tri-party Agents.
The Series B round will help Provable grow its commercial, product, and engineering headcount, and will drive additional product and geographical expansion.
KEY QUOTES:
“At Schwab, we value supporting innovative firms and technology that strengthen the financial services ecosystem and enable Schwab to meet the needs of our clients. Provable Markets supports that objective by helping modernize securities finance workflows through automation, connectivity, and scalable solutions, improving capital market efficiency and execution quality.”
Howie Kennedy, Managing Director, Securities Lending, Charles Schwab Corporation
“As demand for securities financing transactions continues to grow, market participants are increasingly seeking solutions that improve capital efficiency while reducing operational complexity. Provable Markets’ integration with DTCC’s SFT Clearing Service helps participants streamline post-trade processing and unlock the balance sheet benefits of central clearing.”
Brian Steele, Managing Director, President, Clearing & Securities Services, DTCC
“We started Provable Markets with the belief that modernizing securities finance is a market structure story that requires a foundational pipes and plumbing approach to rebuild core infrastructure from the bottom up. Charles Schwab and DTCC’s investment validate and fuels our next stage of growth to execute on our vision of becoming core market infrastructure for the rapidly expanding securities finance landscape and beyond.”
Matt Cohen, Co-Founder and CEO, Provable Markets
