IronFX successfully concludes agreement to raise US$100 million from strategic family office investor
IronFX is aiming to use the funds to further expand its global footprint.
IronFX has successfully concluded an agreement with a prominent MENA region family office investor for a strategic investment of $100 million, which will be made in tranches to fund its growth capital needs. IronFX is aiming to expand its markets of coverage and launch additional brands, as well as, acquire existing brands and books of business.
The initial investment into the Company has already been completed. The additional investment tranches are set to be completed during the course of the next twelve months and will be subject to regulatory approvals.
Commenting on the news, Markos Kashiouris, CEO of IronFX, said: “Over the past eight years IronFX has established itself as a global retail FX business and brand focusing on quality of service, wide and sophisticated product range, impeccable execution and localised presence. We are now ready to expand our capital base to ensure the next phase of the Company’s growth. Our ability to attract sizeable investment and the quality and reputation of our new international partners demonstrates the significant strides made by the Company over the past years, as well as its current market position and future outlook.”
“It also signifies an important foreign direct investment and a vote of confidence in the Cyprus financial sector where the large majority of the Company’s operations are located. This reflects the fact that Cyprus combines many favourable features that make it a unique investment destination since, among others, investment firms are subject to a robust fair and proactive supervisory environment” continued Mr Kashiouris.
“We are pleased to be welcoming an institutional investor that shares our vision about the evolution of the market and our differentiated value proposition. The Company is aiming at expanding its partnerships, brands, account management force, offices as well as effect further operational enhancements and automations that will drive both top and bottom line growth. IronFX will also be looking for acquisition opportunities in the broader retail and institutional FX sector” he concluded.
