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Screenshot of a breaking news alert e-mail from Q2 2017
China based Retail FX brokerage company TigerWit Group has announced that it has secured a USD $5 million investment from US technology investment and venture capital firm Susquehanna International Group (SIG). The company stated that this capital will enable TigerWit to further advance its mobile-focused trading technology and invest in new innovative technologies to enhance the client trading experience.
The Susquehanna investment comes on the heels of TigerWit expanding to the UK via the acquisition of FCA regulated Mercor Index. Just earlier this week we had reported that TigerWit has brought it former IG Group UK CEO Tim Hughes to run the UK operation alongside Mercor Index founder Simon Denham, who is the former CEO of London Capital Group.
Summer Xu, CEO and co-founder of TigerWit Group said of the investment:
We are delighted that by taking this stake in TigerWit, SIG recognises the company as a leader in the provision of financial trading technology for retail investors around the globe. It is incredibly exciting to have them join the business as an important stakeholder. We will be using the investment to build upon TigerWit’s expanding global footprint and offer investors the best trading experience available whilst harnessing new technologies such as blockchain to underpin our innovation.
Tim Gong, MD of SIG Asia Investment, said:
The stake we have taken in TigerWit is driven by the technology they have built to make trading more immersive and intuitive. We have been very impressed by Summer and her team who are fully committed to making TigerWit the provider of choice for retail investors. Their client-centric approach, focusing on protection as much as user experience, made them really stand out and we are delighted to be backing them with our investment.
The TigerWit Group said that it is investing heavily in blockchain technology to bring further innovation to the retail broking space. With a key feature of blockchain being its immutability, TigerWit believes its application of the technology will help build even greater trust in the market and in its brand. TigerWit stated that it looks forward to updating stakeholders with progress on this project later in 2018.