GLMX Plans European Expansion with $20 Million Fund Raise

Repo trading platform will use funds to fuel European expansion.

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The equity financing came from Sutter Hill Ventures, Otter Capital and Tippet Venture Partners, all of which were initial backers of the platform.

The firm will use the funds to expand its European operations and build out its local engineering team, it says. GLMX offers a request-for-quote (RFQ) buy-side-to-dealer trading platform in repo markets and recently revamped its entire technology architecture, debuting its new platform on January 9. It says that its client base has doubled this year

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