Fintech
LoopFX Announces £2.6m Investment from Augmentum Fintech PLC
LoopFX announces new round of funding with Fintech riseEurope’s leading fintech fund, which has taken a £2.6m stake in the business.
Augmentum founder and CEO Tim Levene will join LoopFX’s board of directors, chaired by John Sievwright and comprised of experienced financial services entrepreneurs Martin Gilbert, Michael Soutar and Ivan Ritossa.
LoopFX founder and CEO Blair Hawthorne says: “Augmentum’s expertise and network will be strategically vital to LoopFX as we approach launch. And their investment will help us build our team and accelerate our ability to meet our customers’ needs. As our first institutional investor, Augmentum will join the ranks of other world-class collaborators, including our first partner State Street FX Connect, as well as FactSet Portware.”
Augmentum Fintech founder and CEO Tim Levene says: “We are increasingly focusing on opportunities in the capital markets space, where we see a trend of incumbents choosing to partner and partner with innovative early-stage companies. We believe LoopFX offers a textbook example of a fintech operating in the capital markets in partnership with blue chip financial institutions. LoopFX brings efficiency in trading and price discovery to the FX market, which in turn will help participants comply with MiFID II’s best execution trading regime.