GKFX raises $8 million looking at expansion and retail forex acquisitions – LeapRate Exclusive

gkfx trading

LeapRate Exclusive… LeapRate has learned that FCA regulated Retail Forex and CFDs broker GKFX has raised £6.54 million (USD $8 million) in a series of transactions during the months of September and October.

Kasim Garipoglu, GKFX
Kasim Garipoglu, GKFX

The money, most of which was formally raised late last week, was invested into GKFX by controlling shareholder Kasim Garipoglu, a 31-year-old Turkish investor and Internet entrepreneur, and CEO Serkan Arli.

The company, to the best of our knowledge, has been doing fairly well financially so that this is planned expansion capital (more on that below). GKFX saw explosive growth from mid 2014 to 2015, with Revenues climbing more than three-fold from £16.3 million (fiscal year ended August 31, 2014) to £51.9 million last year. GKFX earned a net profit of £6.8 million last year, and exited the year with capital of more than £16.4 million. Another fiscal year has come and gone since the last financial report, but we understand that the company has continued to grow and do well in fiscal 2016.

So why the capital injection?

We understand that the company, which has recently undergone a changeover in senior management, has some fairly serious expansion plans which may include acquisitions.

GKFX recently saw the departure of CEO Jacob Plattner who had joined the company last year after five years at Alpari UK. The company had planned to onboard former ETX Capital executive Joe Rundle to take his place, but Rundle decided to join ThinkMarkets (with all the aforementioned moves exclusively reported by LeapRate). Instead, the company hired Brian Myers who had recently resigned as VP Sales of OANDA Europe.

With the new team now forming around Brian Myers, the company’s shareholders are looking to continue aggressively growing the company to bring GKFX into the big leagues of Retail FX – although with annual revenues above $60 million the company might already be said to be there.

Geographically, the London-based GKFX has been fairly strong in its founders’ home country of Turkey, the Arab world, and the Far East, but not in the UK or Europe generally. GKFX’s sponsorship of AC Milan has certainly helped build the company’s brand in Europe, but it still has a long way to go.

With more capital in hand, GKFX and the new management team will have more flexibility and options to both increase marketing and branding footprint in Europe (as well as in markets where it is already strong), and to pursue acquisitions where they make sense.

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  • Demetri

    The owner has been in-out of jail few times, the CEO is stupid and Leaprate publishes paid advertisement as news.

  • Markos

    Some people are happy IronFX failed. Who cares about gkfx Turkish kebab shop?

  • Harry T

    Markos/Demetri (or whatever your real name is) – Kasim has never been in jail, he’s a well known and very respected and successful internet startup guy. Bunch of other successes outside of GKFX. What LR wrote here isn’t called a paid ad (although it does seem to do those soemtimes), it is called a SCOOP! Which if you follow things was copied a few hours later by Magnates and a few other “news” websites.

    Sounds to me like you’re just jealous of GKFX. $70 million in revenue last year? GKFX is more than just a “kebab shop”, they’re the real deal. You don’t get that big without treating your clients well. Well done GKFX!

  • Jakob

    I guess you need to google his name and you will find out.
    They send a photo with money to LR to write this bullshot article in order to inflate their ego and small penis. They made money because most of their clients lost.
    Really kebab shop run by Turkish armatures.

  • Vladiv

    They just trying to “follow” IronFX’s “strategy” by spreading lies. Made some money recently due to GBP and they are just trying to have a moment of fame. They only thing they have the brain to buy is indeed a Turkish kebab.

  • Harry T

    You sound like a very jealous competitor Vladiv/Jakob/Markos/Demetri or whatever your real name is. It’s clear that you’re the same person, trying to bad-mouth GKFX under different aliases, If he was arrested then why don’t you share the article link with the audience here? You can’t because you’re making it up, and it doesn’t exist. Also seems from your comments that you’re a racist.

    Don’t go through life as a jealous unsuccessful racist.

  • Joe Bloggs

    Its Khayyam Garipoğlu, Kasim’s father who is in and out of Prison.

    Kasim has never been to prison and took over the family business(chemicals to media) in his fathers absence. When looking at this its important to remember Turkey is not a democracy and sometime these things are politically motivated.

  • Logan Jenkins

    The picture of Kasim Garipoglu reminds me on Markos Kashiouris pictures. Same watch, same esoteric bullshit and the same ugly grin. Some know why GKFX Prime is offshore? To get not a penalty payment from FCA like Iron from CySec. Kasim is a little bit smarter than Markos

  • metsys

    is good to have choices to trade..maybe with this money they can reduce spread and be more competitive

  • James

    they are bullshit in and out of jail


GKFX raises $8 million looking at expansion and retail forex acquisitions - LeapRate Exclusive


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