42Markets, a financial and capital markets fintech investment group led by South African businessman Andries Brink, has secured $10 million in growth funding from Convergence Partners, a leading private equity investor dedicated to the technology sector across sub-Saharan Africa.
Founded by Brink, a highly regarded investor and computer scientist with more than 24 years of experience in financial technology, 42Markets is a consortium of companies united by their extensive knowledge of financial and capital markets.
The group shares a profound commitment to its overarching mission of simplifying, streamlining, and democratizing markets, making them more accessible to all.
According to a press statement released by the group, the fresh capital will facilitate the acceleration of the development and expansion of 42Markets’ portfolio companies, which includes Andile, FXFlow, and Mesh.
Mesh is a cutting-edge, decentralized, multi-sided, cross-asset marketplace that provides all participants with direct access to the financial markets.
The funding is expected to fuel the growth of 42Markets’ innovative companies, each of which plays a vital role in the group’s mission to simplify and optimize market accessibility.
As a result, the investment is anticipated to generate significant value for both 42Markets and its investors
Brink, the CEO of 42Markets Group, said that he and the group are happy that their strategy has received an endorsement from Convergence, a company known for identifying and supporting companies that bring significant changes to markets.
“We are delighted that our strategy is endorsed by Convergence who has a track record of picking companies that change markets,” Brink said.
He also explained that 42Markets has created a network of fintech businesses, each with its own specialized and scalable platform or service for the distribution of financial assets between responsible parties, adding that the $10 million in funding from Convergence will place the group on the path to expand in line with market expectations.
