42Markets Group, a Fintech investment group, has raised $10 million in funding from Convergence Partners, a private equity investor dedicated to the technology sector across sub-Saharan Africa, according to a company statement. The funding is expected to boost the development of the following portfolio companies: Mesh (NL, mesh.trade), Andile (UK, andile.net), and FX Flow (SA, fxflow.co).
Convergence Partners Digital Infrastructure Fund (CPDIF) recently closed at $296 million
Andries Brink, 42Markets Group CEO, said they have built an ecosystem of specialized Fintech businesses:
“We have built an ecosystem of specialised Fintech businesses, all with their own uniquely scalable, frictionless or decentralised platform or services solution for the distribution of financial assets between responsible parties.”
Brandon Doyle, CEO of Convergence Partners, explained that this was one of the first investments in the digital transformation of financial markets.
42Markets is an incubator of Fintech businesses that have expertise in financial and capital markets, focusing on sustainability and transformational businesses.