Exclusive: Guru Capital injects $2.3M of fresh capital into ETX
FNG Exclusive… FNG has learned that Monecor (London) Limited, the FCA regulated parent company of Retail FX and CFDs broker ETX Capital, has received £1.64 million (USD $2.3 million) in additional capital from its new ownership group, Switzerland based fintech investor Guru Capital SA.
Guru Capital, run by former Swissquote executives Ryan Nettles and Luca Merolla, acquired ETX Capital last year from UK private equity firm JRJ Group. The company later closed on the acquisition of ETX’s EU-licensed subsidiary ETX Cyprus after CySEC regulatory approval was received.
We understand that the capital injection was made to provide additional capital to support ETX’s planned business and technical initiatives this year. As was exclusively reported by FNG, ETX saw a near 50% increase in Revenues during 2020 to £32 million, and the company has also been branching out into the area of investment banking – raising funds for a number of small and mid-cap publicly traded companies.
Growth is great, but also requires more capital.