CORPORATEBrazil
A5X raises R$ 360 million in a Series D round at R$ 2.7 billion and targets its derivatives exchange debut in the second quarter of 2027
A5X, a pre-operational derivatives and futures exchange that aims to compete with B3, announced on September 14 a R$ 360 million Series D round led by Morgan Stanley, Goldman Sachs and Kaszek, at a valuation of about R$ 2.7 billion, with participation from shareholders IMC, Jump Trading, Optiver, XTX Markets and ABN Amro Clearing and the entry of XP, which exercised a purchase option; the company has raised more than R$ 730 million in four rounds, says the funds cover regulatory capital and operations to breakeven, and expects to start trading in the second quarter of 2027, after tests with regulators between October and November.