Agreement with institutional investor gives momentum to the Company
New prospects have opened up for IronFX after the recent $100 million strategic agreement with an institutional investor. The new investor is Gemini Financial Services (GFS), a Dubai-based financial services group specialising in international investments and sectors offering high growth opportunities.
The investment aims at the capital growth of IronFX as well as to acquisitions in the wider forex industry. Following the payment of the first tranche of $10 million, the new investor has joined IronFX’s Board of Directors. More specifically, GFS is represented by Mr. Puneet Kamra, one of the Managing Directors of the Group and a specialist in transaction executions. As further tranches of the investment are made, the Group is expected to receive more board seats.
Within the framework of the agreement, IronFX has changed the name of its subsidiary in Cyprus, which was renamed from IronFX Global Ltd to Notesco Financial Services Limited. It is noted that the Company will continue to operate with the same trade names, maintaining the Group’s brand names such as IronFX and FX Giant both in Cyprus and abroad.
Markos A. Kashiouris, CEO of IronFX stated that: “This investment opens up significant prospects for IronFX, as it is expected to strengthen the company’s position in the market, giving it new momentum.” Mr. Kashiouris, noted that at this stage IronFX aims at expanding its operations in a wide range of markets as well as to create additional products and brands. He added that “this investment is of decisive importance as it reflects the confidence of the investors in the company on the one hand and in Cyprus’ financial system on the other, while contributing at the same time in attracting foreign investments”
Gemini Financial Services is affiliated with Torch Investment Management Pte Ltd, a global principal investment platform that is fully regulated by the Monetary Authority of Singapore. Torch represents a core group of sophisticated financial investors comprising family offices and boutique asset managers from across the globe.
The investment in IronFX is linked to the royal family of Saudi Arabia. Prince Mishaal bin Abdullah bin Turki bin Abdulaziz Al-Saud is a member of the Supervisory Board of both Torch Investment and Gemini Financial Services.
IronFX is the award-winning Global Leader in Online Trading, with 10 trading platforms and over 200 tradable instruments in forex, spot metals, futures, shares, spot indices and commodities. IronFX serves retail and institutional customers from over 180 countries in Europe, Asia, the Middle East, Africa and Latin America while providing support in over 30 different languages. IronFX Group complies with international regulatory standards and different entities in the group are authorised and regulated by the FCA (UK), ASIC (Australia), FSP (South Africa) and CySEC (Cyprus).