The London-based 42Markets Group, a financial services company, has announced that a new financing investments of US$10 million from Convergence Partners, a venture capital company in financial markets.
The South African fintech incubator currently serves investment banks and central banks across Africa, the United Kingdom, the European Union, Australia and India.
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.
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.
Brandon Doyle, CEO of Convergence Partners, said: “This is our first investment in digital transformation in the financial markets.
Doyle 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 e merging companies such as 42Markets Group.
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