LoopFX announces £2.6m investment from Augmentum Fintech plc

• Augmentum is the UK’s only publicly-listed investment company specialising in the fintech sector, covering the UK and Europe. Previously backed businesses include Tide, Interactive Investor and Zopa Bank.

• LoopFX is the new independent venue for large spot FX trades with a unique matching solution for market participants. LoopFX enables traders to match, in real-time, with other Asset Managers and Banks without information leakage.

London, 25th June 2024: LoopFX announces a fresh round of funding with Augmentum Fintech, Europe’s leading fintech fund, who have taken a £2.6mln stake in the business.

Augmentum’s Founder & CEO Tim Levene will join the Board of LoopFX, which is chaired by John Sievwright and includes experienced financial services entrepreneurs Martin Gilbert, Michael Soutar and Ivan Ritossa.

Founder and CEO of LoopFX, Blair Hawthorne, says: “Augmentum’s experience and network will be strategically vital for LoopFX as we move towards launch. And their investment will allow us to build our team and accelerate our capability to meet the needs of our customers. 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’s Portware.”

Founder and CEO of Augmentum Fintech, Tim Levene, says: “We are increasingly focusing on the opportunity in the capital markets space where we see a trend of 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 participants comply with MiFID II’s best execution trading regime.”