LMRKTS has received an investment round from World Bank Group member International Finance Corporation.
Investing alongside IFC in this round is newly-formed Motive Partners a FinTech-focused venture capital firm.
Founded in 2012, LMRKTS is a commercial and investment bank compression service, helping to minimise counterparty risk, leverage costs and reducing risk using local currencies.
IFC FinTech investments global head, Andi Dervishi said, “Globally, banks need to improve capital efficiency in the face of increasing regulatory pressure.
“LMRKTS applies a unique financial technology which, through eliminating redundant bilateral and multilateral counterparty exposures, helps banks to improve their risk profile while saving capital which can then be used to lend to small-and-medium sized business among others.
“Their solution can have an even bigger impact for emerging markets banks where regulatory pressure and increased capital needs are compounded by the illiquidity of local markets”
Motive Partners is currently looking to raise up to $150m for its maiden fund, according to a US SEC filing.
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