Assure Hedge, the leading Irish-owned currency protection company, announced they have secured an additional €1.62 million, bringing total investment secured to date to almost €4 million as they expand their workforce to 30.
Barry McCarthy, CEO of Assure Hedge, said:
“With the funding, we are growing the team and investing in technology, while expanding our regulatory scope to scale out our tech stack and products so that smaller SMEs can have access to the same currency hedging and risk mitigation tools that mid to large corporates have access to. We have big plans for the next 18 months and will be really focusing on growing our business across Europe through extensive R&D, marketing and customer development with new banking, broker and payment company partners.”
Assure Hedge provides foreign exchange technology that protects companies against currency fluctuations. Following regulatory approvals earlier this year, Assure Hedge offers a combination of MiFID authorised brokerage for currency options and payments regulatory authorisation, allowing them to conduct business in 31 European countries and to also hold client money. This combination, coupled with groundbreaking technology, enables Assure Hedge to build currency hedging products for customers such as FX brokers, banks and fintech platforms, who can now bolt on new risk management products for their customers more efficiently.
The latest round of investment was led by recently appointed Assure Hedge chairman Richard Hayes, founder and leader of IFG Group for 17 years and previously chairman of Global Shares, and Rob Smith, previously chief technology officer at global electronic trading and market-making company GETCO, with each investing approximately €600,000.
With this additional investment, Assure Hedge plans to double headcount over the next 12 months to 30. A range of tech roles will be based in Dogpatch Labs in Dublin, while sales team positions that will actively target financial firms in Europe will be on offer in the UK.