Capital Markets Fintech Group 42Markets secures $10M capital from Convergence Partners and 14 DFIs

42Markets Group, the financial and capital markets fintech investment group, has secured $10 million in growth funding from Convergence Partners, a leading private equity investor dedicated to the technology sector across sub-Saharan Africa, after it recently closed its Convergence Partners Digital Infrastructure Fund (CPDIF) at $296 million.

42Markets Group CEO Andries Brink noted that the most mature of the 42Markets Group businesses is capital markets services and advisory firm Andile (UK,), that brings deep market and industry expertise to help the Trade and Treasury departments within Banks, leapfrog legacy software to streamline and automate their IT Operations infrastructure. The business currently services Investment Banks and Central Banks, across Africa, the United Kingdom, the European Union, Australia, and India.

The funding will enable Andile to further leverage its expertise and invest in new technologies, positioning the company as a leader in the region’s Capital Markets ecosystem, and contributing to increased financial stability and inclusiveness in East Africa.

Other Group companies include early-stage platform business FXFlow (SA, ), a FX exposure and risk management platform that creates value for importers and exporters in regulated markets, and Mesh, an institution-grade, decentralised, multi-sided Financial Markets platform that bridges the gap between TradFi, (the traditional world of Financial and Capital Markets), AltFi (a range of alternative, traditionally illiquid financial assets and investment instruments) and DeFi (the new world of Distributed Ledger Technology and Tokenomics).

Fourteen leading global development finance institutions (DFIs) based in Europe, the US and Africa are the investors in CPDIF and Brink says “this is the connected capital we have been looking for. We are proactively engaging with these investors to explore further opportunities to work together”.

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