25th April 2025, London, UK: Today, alternative banking partner IFX Payments announces they have reached an agreement in principle to acquire Argentex Group PLC, a publicly listed FX options and electronic money institution, bringing together two established players in the UK Payments and FX space.
This strategic acquisition is part of the business’s wider mission to become the number one service-led alternative banking partner in EMEA for corporates and Financial Institutions, creating value beyond the transaction.
The acquisition, if completed, will allow IFX to expand its regulated capabilities, enhance their institutional client reach and strengthen their offering to include various structured FX products and fund related services.
In turn, Argentex Group PLC’s existing client book will be able to make use of IFX’s technical capabilities and ibanq platform.
Will Marwick, CEO at IFX Payments said “We are very pleased to announce the proposed acquisition of Argentex, which will enhance our regulated capabilities, diversify our product portfolio, particularly in FX risk management and institutional offering, and further expand our geographical reach and network. We look forward to the Argentex team joining us and working together towards our shared ambitions in the rapidly growing global payments and currency risk management solutions sectors.”
About Argentex
Founded in 2012, Argentex Group PLC is a UK-headquartered provider of foreign exchange services, supporting institutions, corporates, and high-net-worth individuals in managing their international payment and currency risk needs.
In 2019, the company was admitted to the London Stock Exchange’s AIM market, raising £14 million and achieving a market capitalisation of £120 million. By 2022, Argentex had transacted over US$200 billion across more than 140 currencies on behalf of clients worldwide. The business has established operations in Amsterdam, Australia, and Dubai.
About IFX Payments
IFX Payments is an award winning service-led alternative banking partner delivering value beyond the transaction. The company is dedicated to building an accessible, frictionless, and complete digital payments experience that simplifies complex treasury processes, allowing businesses to focus on what truly matters. With offices in London, Amersham, Warsaw, and Dubai, IFX Payments has grown to a team of over 200 professionals worldwide. At its core, IFX specialises in managing FX and payments for corporate businesses with extensive cross-border reconciliation and payment needs.
