360T Group, a Frankfurt, Germany-based independent global provider of a multi-bank, multi-asset trading platform, has received an investment of undisclosed amount from growth equity firm Summit Partners.
Summit Partners, which is partnering with the existing management team, led by CEO Carlo Koelzer, who is a significant shareholder, will acquire a majority stake in 360T and will help the company continue to expand into new markets.
The investment will involve a partial divestiture of the stake held by Brockhaus Private Equity, which will continue to be a shareholder in the company after the transaction.
The transaction is pending regulatory approval by BaFin, the financial regulatory authority for Germany, and the German Cartel Office.
Founded by CEO Carlo Kölzer and Mathew Kuppe in 2000, 360T provides web-based trading technology for OTC financial instruments, particularly currency exchange, short-term money market loan/deposits and interest rate derivatives. Its global transaction network is designed to enable clients to trade with transparency and control at every stage of the trading lifecycle.
The company also offers a hosted white label trading technology that allows organizations to provide internal electronic trading services on a proprietary branded platform. It already has a global presence with customers in more than 45 countries and offices in America, Asia-Pacific and the Middle East.
Buy-side clients include national and multinational corporate treasuries, institutional clients such as asset managers, broker/dealers and banks.