Liquidity Marketplace (LMX), a peer-to-peer marketplace for corporates, banks and non-banking financial institutions looking to source and deploy short-term liquidity, announced today it has raised US$1 million in seed funding, led by Javelin Startup-O Victory Fund, a partnership between Singapore-based online assessment and venture building platform Startup-O and Javelin Wealth Management.

Several unnamed strategic angel investors also joined the round.

The Vancouver-headquartered startup, which recently launched in North America, will use the money to expand into Southeast Asia and the US. The capital will also help the startup to add new categories, including secured loans and trade finance.

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“This investment backed by Javelin Startup-O Victory Fund is key to our aggressive expansion into the US and Southeast Asia,” said Thomas Schickler, Co-founder and CEO of LMX. “We aim to reshape the global liquidity market with our vision and unique capabilities, with the help of Startup-O’s community of experts and resources across geographies.”

LMX was founded in 2016 by financial and technology experts from HSBC and Goldman Sachs. The firm connects corporates, banks and non-bank financial firms via an all-to-all marketplace, where they can borrow and lend directly with each other by eliminating intermediaries. This helps clients achieve lower costs and higher yields, while also bolstering risk controls.

Anuj Jain, Co-founder and CEO, Startup-O, said: “In an ecosystem where authentic startup founders face immense challenges, LMX has shown capabilities in penetrating international markets. We are confident that our 360-degree immersion into the Asian region will allow for LMX to succeed and grow.”

Startup-O combines the art of assessment by global experts with the science of decision-making algorithms to discover and enable the most promising startups, while building a diligent and diversified portfolio for the investors in the fund. The platform aims to bring data, transparency and a non-biased approach to growth stage investing, supported by a cohesive community of tech entrepreneurs, domain experts and investors.

Photo by JF Martin on Unsplash