Abu Dhabi broker Capex.com raises $21m and targets millennial investors

The company got its Abu Dhabi license last year – four years after it was first founded. (Shutterstock)

• The proceeds will be used to launch new products and for its expansion plans in key markets around the world

DUBAI: International brokerage firm Capex.com has raised a total of $21 million in a new funding round, as interest in online trading and investment grows.
The proceeds will be used to launch new products, the company said in a statement, as well as for its expansion plans in key markets around the world.
Capex.com, which is the official trading partner of Juventus, currently operates four trading licenses, one of which is from the Abu Dhabi Global Market Financial Services Regulatory Authority.
The company said it saw rapid growth last year, driven by younger people taking an interest in online trading.
“Although millennials are still the leading force behind last year’s massive growth of the fintech industry, we can see that everyone is now using apps to manage their finances, make payments, trade and invest,” Octavian Patrascu, CEO of Key Way Markets that owns Capex.com, said.
He said 2021 is a “key moment for financial markets” given the changes brought by the COVID-19 pandemic that has pushed economies to the wall.
The company got its Abu Dhabi license last year – four years after it was first founded. It recently opened an office in Spain, and is expanding its operations to Latin America and Southeast Asia.