Gain Capital raises $117m funding

Gain Capital raises $117m funding

Online foreign exchange trading outfit Gain Capital has raised $117 million in a funding round led by venture capitalist 3i and including existing investor VantagePoint Venture Partners.

The round was led by new investor 3i, which pledged $97 million. In connection with the investment, 3i US growth capital partner Whitney Bower will join Gain's board of directors.

VantagePoint, which invested $40 million in the firm during the last funding round in April 2006, has committed a further $20 million.

New Jersey-based Gain Capital was founded in 1999 and now supports average trading volume of more than $100 billion per month. The firm also supports over 40 white label relationships.

The vendor says that "a portion of the proceeds" of the investment will go to the balance sheet "to facilitate larger trading relationships" and support its white label business.

Gain's investor group also includes private equity firms Tudor Ventures, Edison Venture Fund, Cross Atlantic Capital Partners and Blue Rock Capital.

Comments: (0)

Is your business ready for the 10th January, 2020?

Trending Stories