Augmentum Fintech Invests £2.6 Million in London-Based LoopFX

Augmentum Fintech plc, recognized as Europe's leading publicly listed fintech fund, has announced a £2.6 million (US$3.3 million) investment into London-based LoopFX. LoopFX operates as an independent venue for large spot FX trades, offering a unique matching solution for market participants. The platform enables traders to match in real-time with other asset managers and banks, maintaining confidentiality and providing mid-market rates to reduce trading costs and improve best execution processes.

This marks Augmentum's initial foray as an institutional investor in LoopFX, with the investment following the integration of LoopFX's 'Peer-To-Bank' matching technology into prominent forex platforms like State Street's FX Connect and FactSet's Portware.

Tim Levene, CEO of Augmentum, will be joining the LoopFX board. "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," he added.