London-based capital markets firm LO:TECH has raised $12 million in a Series A funding round. The round was led by MMC, with participation from existing investors Faction and 13 Books Capital, along with new investor Atka.
LO:TECH has developed trading technology that allows clients to trade across different markets, asset types and platforms at any time. Its execution services, launched today, help clients trade more efficiently across traditional financial markets, digital assets and prediction markets.
The new funding will support the company’s expansion into the United States and Asia-Pacific, including plans to establish a presence in New York and Singapore. LO:TECH will also use the investment to grow its execution services for institutional clients.
The company also plans to obtain regulatory approval in the markets where it operates. It is currently exploring licensing options in the United States.
“Capital markets were built for a world that opened at 8am and closed at 4.30pm. That’s not how risk is traded any more,” said Tim Meggs, CEO and Co-Founder of LO:TECH. “The best trading firms in the world are technologically advanced, but they grew up on top of traditional market infrastructure. We built ours from scratch for markets that run 24/7, onchain and across every asset class.”
“Fintech and digital asset platforms are moving into territory that used to belong to Wall Street. To do that well, they need trading partners built for how these markets actually work,” said Marcus Horsley, CTO and Co-Founder of LO:TECH. “There is room for a capital markets firm that grew up in digital assets to compete with the largest names in traditional finance, and we think that firm can be built in London.”
“Tim, Marcus and the LO:TECH team have built a business designed for markets that never close, delivering triple-digit revenue growth over the past year through exceptionally tough crypto market conditions,” said Ollie Ricards, Partner at MMC. “We’ve been investing in blockchain-based financial infrastructure for several years because we believe in the benefits tokenised real-world assets can bring. As more trading moves to always-on venues, we see a significant opportunity for LO:TECH to provide the infrastructure those markets need, and we’re delighted to support the team on that journey.”
LO:TECH was founded by Tim Meggs, Marcus Horsley and Alex Williams. The company operates in capital markets and focuses on connecting traditional financial markets with blockchain-based markets. It has built high-speed trading technology that supports its own trading activities as well as services for clients.
The company operates across traditional financial markets, digital assets and prediction markets. It provides services such as market making, market data and trade execution to more than 50 institutional clients.
