FX Platform MillTech Secures $60M Apax Investment, Valued at $325M

Apax Partners has completed a significant MillTech Apax investment of $60 million into the foreign exchange (FX) platform MillTech. This strategic move values the company at $325 million.

Apax acquired a minority stake in MillTech. The new capital aims to accelerate product development and support planned expansion into North America.

What Happened

Apax Partners invested $60 million into MillTech, a deal that now values the FX platform at $325 million.

This investment involved Apax acquiring a minority stake in the company. The funding was made through Apax Digital Funds.

Details From Sources

Apax Partners is an existing client of MillTech. They utilize the platform for investment operations across their various funds.

MillTech operates as an execution platform for institutional foreign exchange. It provides direct access to multi-bank liquidity and automated FX hedging workflows. MillTech previously raised $30 million in June 2021 from VCM Global Asset Management. Ronald Cohen is also listed as a shareholder.

Majority ownership of MillTech remains with its London-headquartered parent company, Millennium Global Investments. MillTech claimed 73% revenue growth in 2025.

Recent product developments include an automated cash management solution, launched last June with BlackRock Cachematrix. Additionally, MillTech debuted an AI risk advisory co-pilot for automated trade calculation, FX hedging strategy modeling, and interest rate differential assessment.

This information is attributed to FinTech Futures.

Why This Matters

The new funds will be used to accelerate product development efforts. There is a planned expansion into the North American market.

This investment will also enhance treasury management capabilities for MillTech.

Background Context

MillTech’s core business is providing an institutional foreign exchange platform. This platform offers direct access to multi-bank liquidity.

The company also provides automated FX hedging workflows. MillTech’s last funding round in June 2021 secured $30 million from VCM Global Asset Management.

Related Data or Statistics

MillTech claimed a 73% revenue growth in 2025.

Future Implications

MillTech plans to utilize the new capital to accelerate product development. The company also intends to expand into North America and enhance its treasury management capabilities.

Conclusion

The substantial MillTech Apax investment marks a key development for the FX platform. This $60 million funding round values MillTech at $325 million.

The capital infusion is strategically important for MillTech’s continued growth and operational enhancements.

FAQ

• Q1: What is the valuation of MillTech following the Apax investment?

  MillTech is valued at $325 million after the Apax investment.

• Q2: How much capital did Apax Partners invest in MillTech?

  Apax Partners invested $60 million in MillTech.

• Q3: What services does MillTech provide as an FX platform?

  MillTech provides an execution platform for institutional foreign exchange, offering multi-bank liquidity access and automated FX hedging workflows.

• Q4: How does MillTech plan to use the new funding?

  MillTech plans to use the funding to accelerate product development, expand into North America, and enhance treasury management capabilities.

• Q5: Who retains majority ownership of MillTech?

  Millennium Global Investments, MillTech’s London-headquartered parent company, retains majority ownership.