CAPEX.com, the multi-regulated broker that is looking to expand globally, has announced the closing of a funding round with the total amount raised is $21 million from Growth Box Ventures and a syndicate investment led by Moore & Moore.
The company already holds a license in Cyprus from CySEC which was its first license and after that, it has managed to get licensed in South Africa, Seychelles, and in Abu Dhabi as well. This makes it clear that the company is looking to expand its operations all across Asia and Africa as well.
“Although Millennials are still the leading force behind last year’s massive growth of the fintech industry, we can see that ‘everyone is now using apps to manage their finances, make payments, trade and invest, both in traditional but also in neo-finance products. 2021 is a key moment for the financial markets, and here at CAPEX.com we are fully prepared to expand our team and come up with exciting new features and products,” declared Octavian Patrascu, CEO of the company that owns CAPEX.com.
The company has a strong presence in Europe and is looking to open a branch in Spain as well to improve its services in the European region. The platform recently added more crypto instruments on top of the existing ones and not boasts over 2000 instruments that are now available for trading by its users. The company also hopes to increase the number by adding more DeFi and blockchain-based services.
The company said that it would be using the new investment for the launch of new products and also would be looking to fund the rapid expansion of the brokerage through M&A deals. The investment comes in at the right time as the race to capture the new market across the new regions is hotting up with more and more brokers looking to expand into these new markets. With crypto trading also offering a new lease of life for the retail trading industry as a whole, the brokers are vying with one another to capture a share of the market and the brokers could use as much funding as possible to push their case.