ONE OF Europe's leading listed fintech funds has announced a multimillionpound investment in
The move makes
In September last year, it entered a commercial arrangement with the US bank
Loopfx focuses on facilitating large trades—$10 m (£7.9m) or more—which had in the past been challenging for asset managers and banks by matching market players without "information leakage."
The firm announced that
Levene commented: "We are increasingly focusing on the opportunity in the capital markets space where we see a trend in incumbents opting to collaborate and partner with innovative early-stage companies.
"We believe Loopfx offers a text-book example of a fintech operating in the capital markets in partnership with blue chip financial institutions.
"Loopfx brings efficiencies in trading and price discovery to the FX market, which in turn will help market participants comply with best execution requirements."
The investment will allow Loopfx to accelerate its growth.
Venture capital fund
Listed on the LSE's main market, the fund has struggled to adapt to the higher rate environment that has forced many private fintechs to commit to funding rounds that lower their overall valuation in order to raise capital.
Shares in the firm closed up five per cent.
(c) 2024 City A.M., source