MMC leads US$12 million Series A for London's LO:TECH
The capital markets firm will use the funding to support expansion into the US and Asia-Pacific, with a presence planned in New York and Singapore.
LO:TECH has raised US$12 million to help take its trading infrastructure business into the US and Asia-Pacific. MMC led the London-based firm's Series A, joined by Atka and returning backers Faction and 13 Books Capital.
The company plans a presence in both Singapore and New York. Separately, it intends to broaden its execution services for institutional clients and seek regulatory authorisations in the markets it enters. It is also examining US licensing options.
Founded by chief executive Tim Meggs and chief technology officer Marcus Horsley, LO:TECH develops systems for continuous trading across multiple venues. Its infrastructure covers digital assets, prediction markets and traditional finance. The firm has recently introduced execution services that use those systems, alongside its liquidity offering.
Meggs said the technology had been built from scratch for round-the-clock trading, including on blockchain platforms. Horsley said the company saw scope for a firm rooted in digital assets and built in London to compete with major traditional finance businesses.
