MillTech, a London-based threat administration platform that gives next-gen FX hedging and money investments for fund managers and corporates, in the present day introduced a €51 million ($60 million) minority funding.
The funding was sourced from the Apax Digital Funds, the expansion fairness arm of Apax Companions LLP, valuing MillTech at €277 million ($325 million). MillTech’s final group holding firm retains its majority shareholding.
Eric Huttman, CEO of MillTech, commented: “I’m thrilled to be broadening our partnership with Apax from a shopper to an investor. The funding is a powerful endorsement of the worth our platform delivers and the sheer magnitude of our long-term potential. This partnership helps our subsequent section of development, together with our deliberate North American enlargement, as we proceed to ship industry-defining treasury options by combining purpose-built expertise with our distinctive fiduciary DNA.”
MillTech’s €51 million minority funding sits inside an lively 2025–2026 European funding cycle for treasury, funds and risk-management infrastructure.
In adjoining areas, London-based Bound raised €20.7 million to assist EU regulatory approval and development in automated FX threat administration; London-based Coremont secured €34 million to speed up its institutional analytics platform, together with AI and real-time threat capabilities; Paris-based Spiko raised €18.9 million to broaden entry to treasury yields; London-based Sokin added €83 million to scale its funds platform internationally; Berlin-based Mondu obtained a €100 million facility to assist European enlargement in B2B funds; and Taktile raised €51.5 million to assist financial-services threat groups undertake AI for decision-making.
Taken along with MillTech, these sums quantity to over €359 million, giving a way of the capital shifting by way of this a part of FinTech.
The UK angle is especially notable, with Certain, Coremont and Sokin all showing alongside MillTech in the identical broader infrastructure class.
Marc Henckel, Managing Director at Apax Digital, provides: “MillTech is a disruptive platform that allows shoppers, together with Apax, to automate and scale core treasury workflows with stronger controls and transparency. By aggregating volumes throughout a high-quality financial institution panel, it sharpens pricing and improves FX effectivity.”
Based in 2019, MillTech automates FX hedging and funding operations by combining commerce calculation, execution, settlement, reporting and transaction price evaluation (TCA) right into a single expertise resolution.
The agency, drawing on greater than 30 years of foreign money administration heritage from Millennium World Investments, delivers direct entry to the wholesale multi-bank market through its company ISDA community and, on common, delivers 50%+ price financial savings in comparison with conventional custody, prime brokerage, or single-bank preparations.
The corporate explains that they function independently from counterparty banks whereas guaranteeing connectivity throughout its shoppers’ current service suppliers, together with financial institution accounts, fund directors and portfolio/treasury administration methods.
Sir Ronald Cohen, co-founder of Apax, was an early backer of MillTech.
Latest product enlargement consists of money administration, developed in collaboration with BlackRock’s CacheMatrix, that helps companies automate money funding workflows and enhance returns on money balances.
MillTech additionally launched Co-Pilot, an AI-enabled threat advisory resolution that allows shoppers to automate commerce calculation, mannequin FX hedging methods, assess rate of interest differentials and optimise money deployment.
Mark Beith, Accomplice at Apax Digital, commented: “FX hedging is simply too usually an invisible drag on efficiency. MillTech fixes that – and the power of buyer suggestions we’ve had is outstanding. We’re thrilled to associate with Eric and the crew to deliver this AI-enhanced platform to a a lot bigger international viewers.”
FX is the world’s largest and most liquid monetary market, with common day by day international turnover reaching €8.2 trillion ($9.6 trillion) in 2025.
Nonetheless, MillTech believes organisations proceed to handle FX threat manually by way of fragmented processes and methods with restricted transparency. A
current MillTech survey discovered that eight in ten firms skilled losses from unhedged foreign money publicity in 2025. On common, US companies misplaced €8.3 million ($9.8 million). In opposition to a backdrop of renewed foreign money volatility in early 2026, demand is rising for technology-enabled options that strengthen governance, improve execution self-discipline and embed larger management throughout treasury operations.
In line with figures offered by the corporate, MillTech has seen 79% income development in 2024 and 73% in 2025. The agency has proceeds of roughly €427 billion ($500 billion) in annual buying and selling quantity, supporting shopper hedging programmes totaling over €29 billion ($35 billion).
At present’s funding will assist MillTech’s subsequent section of development, accelerating its enlargement throughout North America whereas additional enhancing its superior treasury administration capabilities.
Apax can be a MillTech shopper, deploying the platform’s capabilities throughout a lot of its funds to assist funding operations.
