Trading platform TigerWit secures $5 million investment to develop blockchain

TimeToTradeUK-based fintech firm TigerWit, which has recently acquired Simon Denham’s brokerage TimeToTrade, announced that it has secured a US$ 5 million investment from Susquehanna International Group (SIG), a US-based technology investment firm. The capital will allow further advancement in its mobile-focused trading technology.

 

“We are delighted that by taking this stake in TigerWit, SIG recognises the company as a leader in the provision of financial trading technology for retail investors around the globe”, said Summer Xu, Chief Executive Officer and co-founder of TigerWit Group, “It is incredibly exciting to have them join the business as an important stakeholder. We will be using the investment to build upon TigerWit’s expanding global footprint and offer investors the best trading experience available whilst harnessing new technologies such as blockchain to underpin our innovation.”

 

Tim Gong, Managing Director of SIG Asia Investment
Tim Gong, Managing Director of SIG Asia Investment

Additionally to its mobile trading technology, the US$ 5 million investment will equip TigerWit with enough capital to enhance the client trading experience with innovative technologies, such as blockchain. With a key feature of blockchain being its immutability, it is the company’s belief that applying this technology to the retail broking space will help build even greater trust in the market and in its brand.

 

Tim Gong, Managing Director of SIG Asia Investment, added: “The stake we have taken in TigerWit is driven by the technology they have built to make trading more immersive and intuitive. We have been very impressed by Summer and her team who are fully committed to making TigerWit the provider of choice for retail investors. Their client-centric approach, focusing on protection as much as user experience, made them really stand out and we are delighted to be backing them with our investment.”

 

In January 2018, TigerWit acquired UK-based and FCA regulated broker Mercor Index, most known for its trading name TimeToTrade. The deal marked TigerWit’s first acquisition of another complementary business and grants a highly significant entry into the UK market, given its FCA license.

 

Tim Hughes, Chief Executive Officer
Tim Hughes, Chief Executive Officer

The new UK-subsidiary named Tim Hughes as Chief Executive Officer (CEO) and Simon Denham, founder of Mercor Index, as Chief Risk Officer (CRO).

 

With its cutting-edge mobile and online trading technology, TigerWit allows customers to trade global FX markets, indices, commodities, and metals, whilst ensuring access to global interbank liquidity. Headquartered in Beijing, the company was able to earn a UK Financial Conduct Authority license through the acquisition of Mercor Index (TimeToTrade), renamed TigerWit Limited.