TickTrade Systems, which provides FX trading and payments solutions for financial institutions, has announced a new investment by, and relationship with, SVB Financial Group, the parent company of Silicon Valley Bank. In a release issued today, the firm says that it will use the investment “to further its global growth strategy and develop new products […]
Tag: Silicon Valley Bank
Silicon Valley Bank
Kantox has partnered with Silicon Valley Bank (SVB), to offer FX management software to SVB’s corporate clients across the UK. The two firms had an existing relationship prior to this deal as Kantox closed its second venture debt financing deal with SVB for €5 million in April. Many of SVB’s clients’ core industries – which […]
LMAX Exchange has completed an equity purchase of Paddy Power Betfair’s remaining stake in the business.
The 31.35% stake (or 187,811 shares), bought for £21,945,000, brings 95% of the company under the control of the group’s management.
The equity purchase is financed by a senior debt facility provided by Silicon Valley Bank (SVB), a bank focused solely on the innovation economy. The terms of the loan are not disclosed.
David Mercer, CEO of Lmax. comments: “I am very pleased to be working with Silicon Valley Bank. SVB’s focus on the innovation economy resonates perfectly with Lmax Exchange growth story and future ambition – this creates a solid foundation for our partnership going forward. Having successfully built a global exchange marketplace for FX, our ambition is to continue growing our distribution and propagate the exchange execution model across capital markets.”