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Goldman Spinoff Simon Tops $800 Million as WestCap Invests

  • Barclays, Credit Suisse, HSBC, JPMorgan, Wells among backers
  • Firm aims for global expansion and to expand product offerings

Simon Markets, a financial-technology platform that spun out of Goldman Sachs Group Inc., secured up to $100 million in a financing round led by growth equity firm WestCap.

The funding round will enable the New York-based firm, which counts financial advisers as users, to expand into alternatives like private equity and hedge funds, as well as digital assets such as cryptocurrency funds, Chief Executive Officer Jason Broder said in an interview. Simon may also seek to expand into Europe and Asia, make strategic acquisitions and invest in portfolio analytics tools.