Global law firm Ashurst has advised FXFY LLC (Forexify) on its investment in Advanced Markets group.
Forexify is a boutique merchant bank that provides advisory services and makes investments predominantly in FinTech companies that have the potential to disrupt legacy business models. Advanced Markets is an institutional foreign exchange liquidity and prime-of-prime service provider which offers direct market access trading in spot FX, precious metals, and contracts for differences (CFD) across financial and commodity products via various regulated entities globally.
Forexify and additional new investor Corbel join existing shareholders Macquarie Group and GFI Group LLC, a wholly owned subsidiary of BGC Partners, Inc. who have reduced their stakes to accommodate new investors for the next phase of Advanced Markets’ growth. The new investor lineup combines the specialist and deep Industry expertise of Forexify and Corbel with the institutional knowledge of Macquarie Group and BGC.
The Ashurst team was led by tech M&A partner Jonathan Cohen with support from associate Kiara De Silva. Global loans partner Tim Rennie and associate Kirsty Huen also advised.
Jonathan Cohen commented “We are delighted to have supported FXFY on this exciting majority acquisition, which will support the growth of its related digital banking ambitions and platforms.”