<p>The Trading Pit, a financial services provider, has secured €10 million in its latest growth <a href=”https://www.financemagnates.com/terms/f/funding-round/” target=”_blank” id=”d08fbe2e-fff7-405c-9466-eaaa94820467_1″ class=”terms__main-term”>funding round</a> led by its co-founding entrepreneur Illimar Mattus’s private equity firm, Pinorena Capital. Mattus is a well-known figure in the trading industry and also co-founded retail FX and CFDs broker, <a href=”https://www.financemagnates.com/tag/tickmill/” target=”_blank”>Tickmill</a>. </p><p>Pinorena Capital was an early investor in The Trading Pit. In addition, the private equity firm was behind the <a href=”https://www.financemagnates.com/forex/brokers/darwinex-raises-e3-million-to-accelerate-its-growth/” target=”_blank”>€3 million injection</a> into Darwinex last year</p><p>Announced on Tuesday, the proceeds will be utilized for accelerating the Liechtenstein-headquartered company’s growth initiatives. It aims to create a ‘super app’ initially with proprietary trading and then expand into investments and asset management services.</p><p>”We are very eager to support The Trading Pit considering the company’s exceptional delivery on all fronts of its original business plan,” said Mattus. “We have been amazed by the strong interest TTP has received from brokers, platform providers, and of course, traders in such a short time. This solidifies our belief that TTP’s products and services will fundamentally change the way prop trading industry works today.”</p><p>The Trading Pit has already onboarded up to 30 trading platforms and financial service providers. On top of that, it is sourcing <a href=”https://www.financemagnates.com/terms/l/liquidity/” target=”_blank” id=”47c3bef3-27ee-4953-8504-159e1b829b33_1″ class=”terms__secondary-term”>liquidity</a> from 20 brokers. Some of the company’s partners are CME Group, FxFlat, QuantTower and several others.</p><p>”The fintech start-up has our full support in becoming the industry’s benchmark over the next few years and creating the prop trading, investing, and asset management super app,” Mattus added.</p><p>A Unique Strategy</p><p>The Trading Pit entered the already-crowded trading market with a unique strategy. It only onboards expert traders on its platform, allowing them to trade with the company’s funds and with no deposit requirements. The company shares the profits from its prop trading activities with its partners.</p><p>The funding came after the company made two key appointments in recent months. As Finance Magnates reported earlier, The Trading Pit onboarded <a href=”https://www.financemagnates.com/executives/thomas-heyden-becomes-ceo-of-the-trading-pits-liechtenstein-headquarters/” target=”_blank”>Thomas Heyden </a>as the Chief Executive Officer of its Liechtenstein-based operations and <a href=”https://www.financemagnates.com/executives/moves/exclusive-themis-christou-joins-the-trading-pit-as-cmo/” target=”_blank”>Themis Christou </a>as the Chief Marketing Officer.</p><p>”The Trading Pit emerged from the simple concept of giving all skillful traders a fair opportunity to reach success in an environment where there is no conflict of interest, and which has full transparency. Our initial success has convinced us that we need to be much bolder with our plans and execution, and the capital provided by our investors will help us to do exactly that,” said Christoph Radecker, the Founder of Futures.de and a Co-Founder of The Trading Pit.</p>
This article was written by Arnab Shome at www.financemagnates.com.
