LO:TECH, a London capital markets firm built for markets that trade around the clock and on blockchains, has raised $12m in a Series A round led by MMC. The company announced the round on 2 November 2026.
Existing investors Faction and 13 Books Capital also took part, and Atka joined as a new backer. The company did not disclose a valuation.
“Capital markets were built for a world that opened at 8am and closed at 4.30pm. That's not how risk is traded any more.”Tim Meggs, CEO and Co-founder, LO:TECH
What LO:TECH does
LO:TECH runs trading systems that are designed to operate on any venue, in any asset class and at any hour. Its business covers designated market making, market data and, from this announcement, execution services that give institutional clients access to traditional, digital-asset and prediction markets through one connection.
The company says it has more than 50 institutional clients. Tech Funding News reported that trading with the firm's own capital makes up most of the business and that clients include listed companies. In July 2026 LO:TECH became a licensed distributor of data from the prediction market Kalshi.
The firm was founded by chief executive Tim Meggs, chief technology officer Marcus Horsley and Alex Williams. According to Tech Funding News, the founders started it after their former employer left digital assets following the collapse of FTX in 2022, and the company now employs just under 20 people. Horsley told the publication he expects to hire 10 to 15 more over the next few years.
What the money is for
LO:TECH plans to open offices in New York and Singapore and to build up its execution services for institutional clients. It intends to become regulated in each market it enters and is looking at licensing options in the US.
Ollie Richards, a partner at MMC, said the firm had recorded triple-digit revenue growth over the past year. Tech Funding News reported that revenue had tripled and the team had doubled since the company's seed round in August 2025.
Markets that never close
The company is betting that more assets will trade continuously. In its announcement it noted that tokenised real-world assets on public blockchains almost doubled over the year to June 2026, from about $20.6bn to $38bn according to data from RWA.xyz, even as the total value of crypto markets fell by about half and the price of bitcoin dropped by about $62,000 from peak to trough over the same period.
Tech Funding News cited further figures showing tokenised equities growing from $960m in March to $3.2bn by the end of September 2026, and a Citi Institute report that forecasts a $5.5tn market for tokenised assets by 2030.
Horsley argued that a trading firm that grew up in digital assets can compete with the biggest names in traditional finance. MMC said it has been investing in blockchain-based financial infrastructure for several years.
The funding so far
LO:TECH raised a $5m seed round led by 13 Books Capital, announced in August 2025. The company has not given a total for the money it has raised.
Company website: lo.tech