42Markets Group raises $10m in investment led by Convergence Partners

Daily News Egypt
4 Min Read

The 42Markets Group, which specializes in financial investments, has announced that it has obtained new financing investments of $10m from Convergence Partners, an investment company specialized in investing in venture capital in the financial markets. 

Andreas Brink, CEO of 42Markets Group, said that obtaining this financing is a positive vote on the confidence of investors in the importance of the positive impact of investments in digital infrastructure, whether in emerging or mature markets, explaining that the company “Andile”, a British specialist In providing advisory services to the capital markets, it is the most mature company, and it also provides deep expertise in the markets to help the finance and trade departments within banks in developing electronic solutions and software with the aim of simplifying the infrastructure for their digital transformation operations, and making it an easier and faster. The company currently serves investment banks and central banks across Africa, the United Kingdom, the European Union, Australia and India.

He added that the group includes a number of other companies, including the emerging business platform FXFlow (SA), which is a platform for managing risks and displaying the currency exchange rate, and aims to maximize the real added value for both importers and exporters in regular markets, in addition to “Mesh.trade”, which is A decentralized multilateral institutional financial markets platform in the Netherlands, which bridges the gap between the traditional world of financial markets and capital markets “TradFi”, on the one hand, and AltFi, a group of financial assets and alternative investment tools, which are not It usually deals with liquidity on the other hand, and DeFi is the new world of financial technology and Tokenomics technology.

Brandon Doyle, CEO of Convergence Partners, said: “This is our first investment in digital transformation in the financial markets. Accelerated, in addition to its leadership team at a high level of efficiency and quality and deep experience and expertise in the capital markets.

He added that the Digital Infrastructure Fund “CPDIF” includes about 14 global development finance institutions (DFIs), based in Europe, the United States and Africa, and this is the development capital that we have been looking for, as we are proactively engaging with these investors to explore more opportunities to work together. 

On the other hand, Christian Roelofs, investment officer at the Dutch International Development Finance Corporation, said that the Dutch development finance company “FMO” is pleased with the efforts made by Convergence Partners in discovering and supporting African entrepreneurs and encouraging startups there, through their investments in Emerging companies such as 42Markets Group, where we believe that financial inclusion supported by digital transformation will make its way to the brown continent, and through our partnership with Convergence Partners, we feel proud of our association with innovative companies working to develop solutions related to the largest needs of our time.

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