ThinkMarkets raises $30 million in growth funding round
Melbourne-based broker ThinkMarkets has raised $30 million in fresh capital, provided by Mars Growth, a Liquidity Group and MUFG joint venture fund. This facility was completed using Liquidity Group’s artificial intelligence platform, Liquidity Analytics, and was introduced to ThinkMarkets by Singapore-based ARC Investments.
In 2020, ThinkMarkets kicked off a non-deal roadshow and was looking to launch its IPO for an indicative market capitalization of $300 million to $400 million. Although it had planned to shoot for a float in the first quarter of 2021, the online trading platform ultimately shelved its planned IPO.
ThinkMarkets (formerly ThinkForex) is a multi-licensed online forex brokerage firm, authorized and regulated by the UK Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC).
Commenting on the funding package, Nauman Anees, Co-Founder and CEO of ThinkMarkets said: “Our ambitions to continue to rapidly scale are entrenched in strong geographical expansion plans and significant new product developments to benefit our client’s trading and wealth management needs in an increasingly borderless investing world. This funding package, supported by leading institutional investors, gives our business the liquidity to scale rapidly in line with our business growth objectives. I thank all the investors who participated and look forward to introducing ThinkMarkets to an increasing number of global trading and wealth management participants.”
ThinkMarkets ventures into B2B market
“It has been our pleasure to work with Nauman Anees and his great team at ThinkMarkets to provide them with the funding to continue rapidly scaling their fintech business,” said Ron Daniel, co-founder and CEO of Liquidity Group.
The UK business of ThinkMarkets has recently launched a new prime brokerage unit under the brand Liquidity.net. The foray into multi-asset liquidity provision is intended for a client segment that includes mid-sized hedge funds, family offices and other buy-side institutions.
The expansion into the B2B market comes at a time when institutional and professional traders are experiencing challenges accessing the wholesale foreign exchange price matching community via a prime brokerage model.
Liquidity.net is authorized by the UK’s financial watchdog and, upon launch, it has established offices in London and Dubai.