FRNT Financial Closes Oversubscribed Non-Brokered $4M Pre-IPO Financing

Getting your Trinity Audio player ready...

TORONTO, April 20, 2021 (Newswire.com) – FRNT Financial (the “Company” or “FRNT”) the next generational institutional sales and trading platform offering clients access to cryptocurrency and other alternative trading opportunities, closed an oversubscribed pre-IPO offering of C$4 million in March.

With the investment, FRNT continues to build its capital base and human capital infrastructure for distribution and development of the firm’s OTC Derivatives products, SEMs (Synthetic Exposure Mechanisms) and other technology and consulting services. The investment will also help the Company prepare for its proposed initial public offering on the TSX Venture Exchange. This investment round brings FRNT’s total private equity funding to date to CAD $6.2 million.

FRNT was co-founded in 2018 by Stéphane Ouellette, who currently serves as CEO. Mr. Ouellette began his capital markets career working in the Equity Products group on the trading floor at BMO Capital Markets (BMO) as a Cash Equity Sales Trader, covering a wide range of account types (hedge funds, pension funds, mutual funds) and geographies (Canada, US, Europe, Asia). His coverage would ultimately expand to include equity options and equity swaps. In August 2019, Stéphane was elected Chairman of the Canadian Security Traders Association (CSTA) following a term as Vice Chairman.

“Institutional investment in Bitcoin began in earnest in 2020 and through 2021 it has continued to accelerate,” said Stéphane Ouellette. “We estimate that just around 10 institutional investors bought 3% of the total supply of Bitcoin this Fall, showing just how early we are in this adoption cycle. It is clear institutional interest has never been higher, but traditional capital markets firms continue to proceed slowly leaving near unprecedented opportunity for new entrants. FRNT aims to be a guide for traditional financial firms looking to access exciting emergent assets.”

With more than a decade of experience in cryptocurrency research, a depth of experience in traditional capital markets, FRNT was purpose-built for this wave of institutional interest in the space. In addition to further developing FRNT’s automated trading platforms, FRNT will use this additional funding to expand its research and consultancy arm and add sales capabilities to service the growing group of asset managers and corporates entering the space

About FRNT

FRNT Financial is a next-generation capital markets platform operating under an OSC Exemption to offer OTC Derivatives on cryptocurrency indices and other assets to permitted clients. Operating out of Toronto, Ontario, FRNT was founded in 2018 and is led by CEO Stéphane Ouellette.

For more information visit frnt.io