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Screenshot of a breaking news alert e-mail from Q2 2017
LeapRate Exclusive… LeapRate has learned from sources close to the company that FCA regulated forex and CFDs broker GKFX has raised an additional £12 million (USD $15.5 million), to help fund the company’s continued growth push in both the Retail and Institutional FX sectors.
The current fundraising, injected into the company by controlling shareholder Kasim Garipoglu and CEO Serkan Arli during 2017, comes after more than $8 million was invested in GKFX in the second half of last year, as was also exclusively reported by LeapRate.
GKFX has been in growth mode amid a changeover in its management ranks over the past year. GKFX saw the departure of CEO Jacob Plattner late last year, after about one year at the company after joining GKFX from Alpari UK. GKFX had planned to onboard former ETX Capital executive Joe Rundle to take his place, but Rundle decided to join ThinkMarkets (with all these moves also exclusively reported by LeapRate). Instead, the company hired Brian Myers who had resigned as VP Sales of OANDA Europe. We also exclusively reported earlier this week that GKFX has hired PhillipCapital and CMC Markets veteran George Sassoon as Head of Sales.
GKFX also recently entered the institutional FX and CFDs space, launching GKPro in May based on the TradAir platform. We understand that a good portion of the funds raised will be dedicated to growing the institutional side of GKFX’s business in the coming months.
LeapRate contacted the company which confirmed the capital injection. Brian Myers, GKFX Managing Director, said the following to LeapRate about the fundraisings:
The recent, and projected future, capital injections are to fully support the business needs of GKFX. We are constantly investing in operations and looking at every opportunity to expand our business organically and otherwise, whilst making sure we adapt to regulatory changes and requirements. We are fully committed to all of our clients in our key regions and continue to invest in being their Global Trading Partner.