The broker will use the funds to expand its geographical footprint and its product suite.
There is about to be a number of changes to foreign exchange and contracts for difference broker Zenfinex Limited, with the company revealing exclusively to Finance Magnates that it has recently completed a Series A funding round, raising £5 million.
Zenfinex, which is currently regulated by the Financial Conduct Authority (FCA), will put the cash raised during the funding round towards its global operations. As such, clients can expect a number of changes on the horizon for the trading provider.
Zenfinex Eyes Geographical Expansion
Finance Magnates can confirm that these changes include geographical expansion across Asia, the Middle East and further throughout Europe, as well as the expansion of its product offering. Leading the recent funding round was Zenfinex Technologies Limited, which is headed by Oscar Hilt Tatum IV.
“After spending the past 14 years in the private equity space focused on large scale real estate development, healthcare, technology and timber companies, choosing to lead the Series A funding round for Zenfinex was an easy decision,” Oscar Hilt Tatum IV said in a statement seen by Finance Magnates.
“We wanted to enter the fintech space with an FCA broker who has a strong management team already in place. Alongside CEO Nick Cooke, we share an ambition and vision to form a successful global operation with offices worldwide beginning with our FCA headquarters in Mayfair, London. I’m excited to see Zenfinex become a global disruptor and watch Nick and the team introduce Zenfinex to the world.”
As Finance Magnates reported, Zenfinex was started by Nick Cooke, a professional within the finance industry with experience in the forex, CFD and equity sectors. The broker was formed in November 2017 and regulated in March of 2019.
“I’m delighted to be heading up the project with Hilt and his team. As the industry gets ever more competitive, it is increasingly important to be well capitalised. We have an ambitious plan to expand our operations to Asia, the Middle East, and elsewhere in Europe,” Cooke added.
“Our aim is to become a multi-regional team by the end of the year. We have exciting plans to achieve additional global regulatory licences, expand our product offering and hire a talented team of industry experts to assist with the project and vision.”