Convergence Adds Specialist FinTech Group to Latest Fund’s Portfolio.
42Markets, a financial and capital markets fintech investment group, has secured $10 million in growth funding from Convergence Partners to accelerate the growth and development of its portfolio companies. 42Markets prides itself on being an incubator of professional fintech companies with extensive expertise in financial and capital markets.
It portfolio includes Mesh, a trading platform; Andile, a financial and capital markets advisory platform; and FX Flow, a South African-based forex risk management system that provides a real-time overview of foreign exchange exposures and hedging.
Funding has been secured from 14 leading global development finance institutions (DFIs) based in Europe, the United States and Africa, investors in the Convergence Partners Digital Infrastructure Fund (CPDIF), according to a company statement.
In January, South African investment firm Convergence Partners announced that it had closed its $296 million Convergence Partners Digital Infrastructure Fund, surpassing its initial target by more than 18%.