LoopFX lands £2.6m investment from Augmentum Fintech

LoopFX, a London-based peer-to-peer FX trading platform, has recently secured a significant investment of £2.6 million from Augmentum Fintech PLC.

Founded in 2022 by Blair Hawthorne and Timothy Johnson, LoopFX aims to revolutionise the foreign exchange (FX) market by providing a unique matching solution for large spot FX trades. The platform allows traders to match in real-time with asset managers and banks, ensuring no information leakage and offering trades at a mid-market rate. This innovation reduces trading costs and enhances best execution processes, positioning LoopFX as a promising player in the FX market.

Augmentum Fintech, Europe’s leading fintech-focused fund, has become the first institutional investor in LoopFX. Known for backing successful ventures like Tide and Zopa Bank, Augmentum’s investment follows the integration of LoopFX’s ‘Peer-To-Bank’ matching technology into State Street’s FX Connect and FactSet’s Portware.

“We are increasingly focusing on the opportunity in the capital markets space where we see a trend of 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 participants comply with MiFID II’s best execution trading regime,” stated Tim Levene, CEO of Augmentum Fintech, emphasising the strategic importance of this investment.

The £2.6 million investment will be pivotal for LoopFX as it moves towards its official launch. According to Blair Hawthorne, the funds will be used to build the team and accelerate the platform’s capabilities to meet customer needs.

“Augmentum’s experience and network will be strategically vital for LoopFX as we move towards launch. And their investment will allow us to build our team and accelerate our capability to meet the needs of our customers. As our first institutional investor, Augmentum will join the ranks of other world-class collaborators, including our first partner State Street FX Connect, as well as FactSet’s Portware,” said Hawthorne.

The investment will also support further technological advancements and product developments, ensuring that LoopFX remains at the forefront of innovation in the FX market.

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