Makor Group Raises $200 million and Appoints Algorand's CEO to Board of Directors
Makor will take advantage of Algorand's blockchain expertise to build and distribute digital assets as it continues its ongoing project to create an industry-leading fintech company.
October 13, 2021 - International agency brokerage and investment banking group Makor Group, has announced that it has completed its Series A raise at a $200m valuation. Makor, founded in 2011 by 2 ex-senior managers at Cantor Fitzgerald Europe, is authorised and regulated by the FCA with its core business being to provide financial securities research and execution to institutional investors across a spectrum of products including Cash Equities, Fixed Income Derivatives, FX and Digital Assets.
In conjunction with the capital raise, Makor is building new strategic partnerships with cryptocurrency platform Algorand, Alan Howard, and several notable US based asset managers. Makor has also announced that it has appointed Algorand's CEO, Steven Kokinos, to the Board of Directors.
The capital raised will support the expansion of Enigma Securities, Makor's industry leading digital asset brokerage with monthly trading volumes in excess of $2 billion, as well as further Makor's geographical expansion and M&A activities.
Steven Kokinos, CEO of Algorand
Steven Kokinos, CEO of Algorand said, "With a growing number of organisations looking to leverage decentralised infrastructure to modernise traditional financial models, Algorand provides the performance, stability, scalability and robust functionality required for disruption in the digital asset space. I look forward to Makor executing on their vision."
The company stated in its release today that the fundraise marks a major milestone in its ongoing project to create an industry-leading fintech company, having launched Makor 2.0 in 2017 to use Makor's broker-dealer expertise and network to serve the world's most sophisticated financial institutions. Makor will take advantage of Algorand's blockchain expertise to build and distribute digital assets, "bridging the gap between Wall Street and the next generation of financial products".
Michael Halimi, co-founder and CEO of Makor, said, "We are witnessing an unprecedented shift in our industry powered by technology and innovation. Over the past year, the exceptional growth in our digital asset division has clearly demonstrated that we are at the forefront of this trend. Our product is among the best in the market, and we have proven our ability to reach customers who previously were unserved or underserved. With our new partners we look forward to leading the digital transition and to building the most relevant products for our customers."
The Makor Group ("Makor") is an international brokerage and investment banking firm established in March 2011 by Michael Halimi and Avi Bouhadana, two ex-senior managers at Cantor Fitzgerald Europe. Makor is authorized and regulated by the FCA and Makor's core business is to provide financial securities research and execution to institutional investors across a spectrum of products including Cash Equities, Fixed Income Derivatives, FX and Digital Asset.
With offices in New York, Dallas, London, Paris, Geneva, Gibraltar, Monaco, Tel Aviv, Singapore and Melbourne, and over 200 group employees, Makor offers its clients 24-hour global trading providing a single point of contact for more than 90 execution venues in cash equities only. Aside from Makor-branded entities, the group includes the Oscar Gruss & Son, Inc. brokerage based in New York, and Makor's cryptocurrency arm, Enigma Securities. In addition, in June 2021 Makor completed the acquisition of the Churchill Capital brokerage business which expanded its offering in New York and London and added offices in Monaco, Melbourne and Singapore. Makor has also recently expanded into investment banking, advising on origination and execution of M&A and capital markets transactions.
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