The founding father of Argentex Group, the overseas trade group which collapsed this 12 months amid market turmoil triggered by President Trump’s tariffs regime, has secured backing from Australia’s strongest monetary group for his newest enterprise.
Tenora was established earlier this 12 months by Harry Adams, who left Argentex within the autumn of 2023.
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Its collapse through the summer time got here as its administration staff tried to safe emergency funding by way of a sale that was finally stymied by regulatory delays.
Macquarie’s funding in Tenora, which values the start-up at £15m, permits the Australian monetary large to nominate two administrators to its board.
Tenora has been set as much as provide enterprise shoppers instruments to handle their FX danger – which is very helpful in periods of utmost market volatility.
A lot of the corporate’s staff and a bunch of particular person traders additionally participated within the funding spherical, in line with Tenora.
“To attract the backing of a major financial institution at this early stage is a strong endorsement of both the market need for our differentiated solution,” Mr Adams mentioned.
Primarily based in London, Tenora’s preliminary merchandise embrace Truhedge, which it says will permit shoppers to make sooner, data-driven selections.
Arturo Alonso, senior managing director at Macquarie, mentioned Tenora supplied “a disruptive solution for the FX and payments industry”.
