British FinTech Firm MillTech Secures €51 Million Investment at €277 Million Valuation

In a significant development for the European fintech landscape, London-based MillTech has announced a €51 million ($60 million) minority investment from Apax Digital Funds, part of Apax Partners LLP. This latest round of funding values the innovative risk management platform at an impressive €277 million ($325 million), underscoring its growing influence in the fintech sector.

A Strategic Partnership and Growth Trajectory

MillTech, established in 2019, specializes in next-generation FX hedging and cash investment solutions tailored for fund managers and corporates. The firm leverages its deep-rooted expertise in currency management, drawing from over three decades of experience at Millennium Global Investments. With this new capital injection, MillTech is poised to accelerate its North American expansion and enhance its treasury management capabilities.

Eric Huttman, CEO of MillTech, expressed enthusiasm for the strengthened partnership with Apax, stating, “This investment is a strong endorsement of the value our platform delivers and the sheer magnitude of our long-term potential.” The collaboration aims to bolster MillTech’s mission to redefine treasury solutions through a blend of cutting-edge technology and fiduciary principles.

European FinTech Funding Surge

MillTech’s funding is part of a broader wave of investment in European fintech, particularly in the treasury, payments, and risk-management sectors. The firm joins other London-based startups like Bound and Coremont, which have secured significant capital to advance their offerings. Collectively, these investments highlight the robust financial momentum and innovation within the UK fintech ecosystem.

Marc Henckel, Managing Director at Apax Digital, emphasized MillTech’s disruptive potential, noting that the platform enhances core treasury workflows with improved controls and transparency. By aggregating volumes across a high-quality bank panel, MillTech sharpens pricing and boosts FX efficiency, offering clients like Apax a strategic advantage.

Innovation at the Core

MillTech’s platform automates FX hedging and investment operations by integrating trade calculation, execution, settlement, and reporting into a seamless solution. The firm claims to deliver over 50% cost savings compared to traditional methods, providing clients direct access to the wholesale multi-bank market via its agency ISDA network.

Recent product innovations include a cash management solution developed with BlackRock’s CacheMatrix, and Co-Pilot, an AI-enabled risk advisory tool. These advancements aim to automate cash investment workflows and optimize currency strategies, meeting the growing demand for technology-enabled solutions amidst rising currency volatility.

Implications for Startups and Investors

For startups and investors, MillTech’s trajectory offers valuable insights into the fintech sector’s evolution. The firm’s ability to secure substantial investment and innovate rapidly underscores the importance of combining technological prowess with strategic partnerships. As FX remains the world’s largest financial market, the need for efficient, transparent risk management solutions is increasingly critical.

MillTech’s impressive revenue growth—79% in 2024 and 73% in 2025—demonstrates the scalability and demand for its offerings. For investors, this signals an attractive opportunity to capitalize on the firm’s expanding market presence and technological advancements.

Conclusion

MillTech’s recent funding round marks a pivotal step in its journey, reinforcing its position as a leader in fintech innovation. By harnessing strategic partnerships and cutting-edge technology, the company is well-equipped to navigate the complexities of the global financial landscape. As MillTech continues to expand, its impact on the fintech ecosystem is poised to be both profound and far-reaching.

Source: EU-Startups