NEW YORK, NY--(Marketwire - January 25, 2011) - GATE Technologies announced today the successful closure of $3.6 million in funding from a group of private investors. GATE plans to use the capital to expand its market infrastructure for providing an end-to-end solution buying and selling illiquid and alternative assets.
GATE has already launched a U.S.-based broker-dealer subsidiary, GATE US LLC, and the company plans to roll out at least two additional GATE Developing Marketplaces (GDMs) in 2011.
"This additional capital is also a validation of interest in the electronic trading of illiquid and alternative assets," said GATE Technologies co-founder and CEO Vincent Molinari. "This successful raise provides us with the tools to respond to a high level of demand from the market."
The investments were booked using GATE Pro, the trading platform of GATE US.
About GATE Technologies LLC
GATE Technologies is an innovative financial technology company creating a new market infrastructure for bringing efficiency, transparency to the unstructured global alternative asset markets. The company offers fully automated, customizable solutions for qualified investors with value-added content and analytics, transparent execution, and dematerialized settlement, clearing, and depository functions. GATE Developing Markets will work together to create the first global common infrastructure for illiquid securities, with a goal of enabling all market participants. www.gatetechnologies.com
Contact Information:
Media Contacts:
Walek & Associates
Chris Gillick
212-590-0534
cgillick@walek.com
Jon Schubin
212-590-0529
jschubin@walek.com