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Augmentum Fintech invests in LoopFX

Augmentum Fintech invests in LoopFX

Augmentum Fintech has made a £2.6 million investment in London-based peer-to-peer FX trading platform LoopFX.

LoopFX is a new independent venue for large spot FX trades. The platform enables traders to match, in real-time, with other asset managers and banks without information leakage and at a mid-market rate, reducing trading costs and improving best execution processes.

Augmentum, a backer of Tide and Zopa Bank among others, is the first institutional investor in LoopFX. Its investment follows the integration of the startup's `Peer-To-Bank' matching technology into State Street's FX Connect and FactSet's Portware.

Tim Levene, CEO of Augmentum Fintech says: "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."

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