Citi tapped to raise for online broker ahead of IPO

Citi tapped to raise for online broker ahead of IPO

There’s never a dull moment in the emerging fintech sector.

Street Talk can reveal online trading broker ThinkMarkets has hired investment bank Citi to oversee a second pre-initial public offering funding round, which is expected to value the company at more than $100 million.

Sources said Citi will seek to raise $20 million to $30 million from the private market ahead of ​an ASX listing in 2019. The company raised $5.6 million earlier this year in an oversubscribed funding round that was cornerstoned by Regal Funds Management and mining entrepreneur Tolga Kumova.

Elysium Capital Partners is the long-time strategic adviser for ThinkMarkets. The Hamza Habib-led firm oversaw the previous funding round and has navigated discussions between the company, which recorded a record profit in the first half of 2018, and potential lead managers in recent months.

ThinkMarkets was founded in Chicago by brothers Nauman and Faizan Anees in 2008. Its main product is a mobile trading platform called Trader Inceptor, acquired in 2017 for an undisclosed sum, and lets users trade foreign currencies, shares, futures, cryptocurrency, indices, commodities and metals.

 

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Source: Citi tapped to raise for online broker ahead of IPO | afr.com

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