Augmentum Fintech has invested £2.6 million in LoopFX, a London-based peer-to-peer FX trading platform.
LoopFX serves as an independent venue for large spot FX trades, allowing traders to match with asset managers and banks in real time. This system helps to prevent information leakage and facilitates transactions at mid-market rates, thereby reducing trading costs and enhancing execution processes.
As the first institutional investor in LoopFX, Augmentum, which also supports Tide and Zopa Bank, acknowledges the significant potential of the startup. This investment comes after the integration of LoopFX’s “Peer-To-Bank” matching technology into platforms such as State Street’s FX Connect and FactSet’s Portware.
Tim Levene, CEO of Augmentum Fintech, commented on the investment, stating: “We are increasingly focusing on opportunities in the capital markets, where we observe a trend of established firms collaborating with innovative early-stage companies. LoopFX exemplifies a fintech that operates within the capital markets while partnering with leading financial institutions. The efficiencies it brings to trading and price discovery in the FX market will assist market participants in meeting best execution requirements.”