Financial Software - Thursday, July 19, 2007
Investors Love Forex. Interbank FX Gets $40M
Investors love forex companies Spectrum Equity Investors loves to put a lot of money to work so this is a good match. Interbank FX says that it has received a $40M minority equity investment from Spectrum.
Interbank FX has over 17K customer accounts in more than 135 countries. If you are not a forex experts, Interbank's differentiation might be over your head. Its customers execute directly from a streaming quote feed, not from a dealing desk that trades against its customers, and the majority of company revenues are generated by a transparent agency-based spread on transactions. Interbank has partnership with big institutions, but traders have access to liquidity in micro-, mini- and standard lots sizes.
Other Forex deals that we have covered include:
+ In April, FXSol raised $100M in a recap round.
+ In January ETF Securities raised $10M.
+ Last July, Technology Crossover Ventures bought a minority stake in bank-owned foreign exchange trading portal FXall for $77.5M.
Read - press release
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