Argentex founder secures Macquarie backing for new venture

The laminitis of Argentex Group, the overseas speech radical which collapsed this twelvemonth amid marketplace turmoil triggered by President Trump’s tariffs regime, has secured backing from Australia’s astir almighty fiscal radical for his latest venture.

Sky News has learnt that Macquarie's Commodities and Global Markets radical has taken a number involvement successful Tenora, an FX exertion platform.

Tenora was established earlier this twelvemonth by Harry Adams, who near Argentex successful the autumn of 2023.

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Its illness during the summertime came arsenic its absorption squad attempted to unafraid exigency backing done a merchantability that was yet stymied by regulatory delays.

Macquarie's concern successful Tenora, which values the start-up astatine £15m, allows the Australian fiscal elephantine to name 2 directors to its board.

Tenora has been acceptable up to connection concern clients tools to negociate their FX hazard - which is particularly invaluable during periods of utmost marketplace volatility.

A fig of the company's employees and a radical of idiosyncratic investors besides participated successful the backing round, according to Tenora.

"To pull the backing of a large fiscal instauration astatine this aboriginal signifier is simply a beardown endorsement of some the marketplace request for our differentiated solution," Mr Adams said.

Based successful London, Tenora's archetypal products see Truhedge, which it says volition let clients to marque faster, data-driven decisions.

Arturo Alonso, elder managing manager astatine Macquarie, said Tenora offered "a disruptive solution for the FX and payments industry".