Home Business 42Markets Group Secures $10M Growth Capital Injection from Convergence Partners

42Markets Group Secures $10M Growth Capital Injection from Convergence Partners

by Brian Yatich
Andries Brink, Founder and CEO, 42 Markets Group

Convergence Partners, a private equity investor focused on sub-Saharan Africa’s technology sector, has invested $10 million in growth funding into 42Markets Group, a financial and capital markets fintech investment group.

The funding round included 14 leading global development finance institutions based in Europe, the US, and Africa.

The investment will enable 42Markets Group’s capital markets services and advisory firm Andile to leverage its expertise and invest in new technologies, positioning the company as a leader in East Africa’s Capital Markets ecosystem.

42Markets Group CEO, Andries Brink, called the investment “a real vote of confidence in the positive impact investment in digital financial infrastructure can have, both in developing and in mature markets.”

Other companies in the 42Markets Group include FXFlow, a FX exposure and risk management platform, and Mesh, a decentralized, multi-sided Financial Markets platform. Brandon Doyle, CEO of Convergence Partners, praised 42Markets Group as “an emerging winner” in the digital transformation of financial markets.

Christian Roelofse, Investment Officer responsible for the Netherlands DFI, said that FMO is pleased with the efforts of Convergence Partners in identifying and supporting African entrepreneurs.

“Through our partnership with Convergence Partners, we are proud to be associated with innovative companies that are developing relevant solutions for the biggest needs of our time.”

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