LO:TECH raises $12M Series A for always-on trading

London-based LO:TECH has raised a $12M Series A led by MMC Ventures, with existing backers Faction and 13 Books Capital and new investor Atka, to scale always-on trading infrastructure and open offices in New York and Singapore.

Traditional markets still shut for the night and the weekend, and yet a London firm that never switches its systems off has just raised $12M to scale. Below, I lay out the round, the company, the market numbers behind it and what the pattern tells us.

Twelve million dollars for a market that never closes

LO:TECH announced the round on 2 November 2026, according to Tech.eu. MMC Ventures led. Faction and 13 Books Capital, both existing investors, returned, and Atka joined. The announced figure is $12M, about €10.7M at the exchange rate of 3 November 2026 on our records.

The money has three jobs. It scales the firm’s execution services for institutional clients, funds offices in New York and Singapore as part of a push into the US and Asia-Pacific, and pays for regulatory authorizations in each new market, including licensing options in the US. CEO and co-founder Tim Meggs framed the pitch in one line: “Capital markets were built for a world that opened at 8am and closed at 4.30pm.”

Two founders and an order book with no closing bell

LO:TECH is a London capital markets firm building trading infrastructure that runs continuously across venues and asset classes, from traditional markets to digital assets and prediction markets. It recently launched execution services that let clients trade across all three, alongside its liquidity business.

CTO and co-founder Marcus Horsley sees an opening for a firm that grew up in digital assets: “There is room for a capital markets firm that grew up in digital assets to compete with the largest names.” According to MMC, as reported by FinTech Global, revenue grew by triple digits over the past year. No revenue or customer figures were published. The company’s profile sits on its Sesamers page.

Tokenized assets at $38bn, with trillions in the forecasts

The demand case rests on tokenization. FinTech Global, citing RWA.xyz data, reports that tokenized real-world assets on public blockchains rose from about $20.6bn to $38bn over a window of about a year, and that tokenized equities grew from roughly $960M in March to $3.2bn by late September 2026. In June, ICE, the owner of the NYSE, and OKX announced a joint venture to give OKX users access to tokenized NYSE equities, pending regulatory approval.

Forecasts run far higher. Ripple and Boston Consulting Group projected in April 2025 that the tokenized real-world assets market would grow from $0.6 trillion to $18.9 trillion by 2033, a 53% CAGR, with $9.4 trillion reached by 2030. The two series use different scopes and cannot be set side by side, yet both point in one direction. A company at Series A sells into the early slope of that curve.

Our own data gives a comparable. Spiko raised a Series B of about €79.9M led by NEA on 6 October 2026 for tokenized cash funds. LO:TECH’s round sits at roughly 13% of that amount, sized for licenses and two offices. More rounds in the sector sit in our fundraising data.

What a London lead and returning backers signal

Three signals stand out. A London fund led. Both existing investors came back, and follow-on checks show conviction in fintech infrastructure rounds. The use of funds points at licensing, the slowest line item in any capital markets business. What we are seeing is a firm that treats regulation as its product roadmap.

How long do regulated trading hours survive when the order books never close? Imagine if a London-built firm held its New York and Singapore authorizations before the incumbents extend their own hours. Watch the US licensing path and the Singapore opening. Let’s build the markets that never close!