Alan Howard and Algorand Back Makor Group in Series A Financing

Regulated by the Financial Conduct Authority (FCA) investment-banking company Makor Group closed a Series A financing round with the participation of billionaire Alan Howard and Algorand. The funds will be used to expand the crypto-brokerage business of its Enigma Securities subsidiary.

Makor Group’s valuation reached $200 million. In the financing round, the company attracted $17 million, according to The Block.

Makor Group will also deploy the funding toward international expansion and acquisitions of competitors.

Algorand CEO Stephen Kokinos will join the company’s board of directors. Makor Group plans to offer solutions to partner organisations interested in blockchain to modernise traditional financial models.

Earlier, Alan Howard invested in crypto startups such as Copper, Komainu, Bullish Global, Bottlepay, and Ledn, as well as in the funds 10T Holdings of Dan Tapiero and One River Digital Asset Management. In addition, he owns Elwood Technologies, which helps banks and fintech firms access crypto liquidity via API.

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