Drake Star Partners helps RTX raise £46 million in growth funding

18 May 2017 Consultancy.uk 3 min. read

RTX, a financial exchange platform for telecom operators, has raised an initial investment of £6 million growth capital from BOOST&Co with further committed funding of £40 million scheduled for the second half of the year. M&A firm Drake Star Partners acted as the financial adviser to RTX on the placement.

Founded in 2007, RTX Routetrader is a Global Carrier Exchange for Telecoms operators – the firm provides a platform where telecom operators can trade voice and SMS anonymously and in a real time secure environment. The company, headquartered in London, offers routing, settlement and switching services for carriers across the globe for their traffic, and boasts to be the first player in the market that operates a multi-currency, multi-language and real-time billing platform.

RTX’s technology also provides an innovative financial exchange, which facilitates global trading between small and large telecoms operators, supported by cash flow management and fast payment terms, as well as managing expedited payments, with no direct credit risk to RTX.

The company is experiencing a period of rapid development, RTX listed 18th in the 2015 Sunday Times Tech Track 100 (a list of the fastest growing technology companies in the UK) and 11th in the 2016 edition of the same ranking.

RTX Routetrader Exchange

£46 million in growth funding

To further accelerate growth, in line with the firm’s ambitions, RTX has raised an investment amounting to nearly £50 million across two periods. An initial injection of £6 million has already been received, with another round of £40 million scheduled for the second half of this year. The money, which follows a £6 million funding in 2015 backed by PNC Business Credit, an Asset Based Lender to UK mid-market companies, was raised with BOOST&Co, a London-based growth capital and venture debt player for SMEs founded in 2010.

Lance Mysyrowicz, Partner at BOOST&C, said: “RTX has a great range of products and services in the wholesale telecoms market. We are very happy to help them expand their product range and their destinations.”

Albert Mackey, RTX’s Chairman, added: “This investment will enable RTX to expand into new markets and help develop our exciting new product range and services. BOOST&Co have a true understanding of our market and I am delighted to be working with them.”

The transaction was supported by Drake Star Partners, a corporate finance firm serving the technology, media and communications sectors (TMC) established last year by the merger between Redwood Capital and LD&A Jupiter. Kruse Petersen, a Principal at the firm, commented, “RTX offers the industry’s only full stack solution and solves a major pain point for carriers. We are delighted that RTX can now further extend its financial services offering to carriers around the world.”