FNG Exclusive… FNG has learned that London based CFDs broker ETX Capital has continued to further its spinoff investment banking franchise, raising £1 million for mineral exploration and development company Red Rock Resources plc.

As was reported exclusively at FNG back in September, FCA regulated Monecor (London) Ltd, the parent company of ETX, had made a strategic decision to branch out ETX Capital into investment banking, focusing on raising money for small and mid cap publicly traded companies listed in the UK.

The money raised will be put to use by Red Rock towards projects it has in Australia, Kenya, and the Congo. The £1 million figure represents one of the largest deals brokered so far by ETX Capital. We had previously reported on transactions the company arranged for Online Blockchain, and Mosman Oil and Gas.

ETX Capital was acquired in 2020 by Switzerland based fintech investment firm Guru Capital SA, led by former Swissquote executives Ryan Nettles and Luca Merolla. The company reported Revenues of £32 million in 2020, up from £21 million in 2019.