{"id":1897,"date":"2026-09-14T13:52:31","date_gmt":"2026-09-14T16:52:31","guid":{"rendered":"https:\/\/a5x.com.br\/blog\/uncategorized\/a5x-raises-r360-million-in-series-d-led-by-morgan-stanley-goldman-sachs-and-kaszek-at-a-r2-7-billion-valuation\/"},"modified":"2026-09-14T14:06:04","modified_gmt":"2026-09-14T17:06:04","slug":"a5x-raises-r360-million-in-series-d-led-by-morgan-stanley-goldman-sachs-and-kaszek-at-a-r2-7-billion-valuation","status":"publish","type":"post","link":"https:\/\/a5x.com.br\/en\/blog\/a5x-en\/a5x-raises-r360-million-in-series-d-led-by-morgan-stanley-goldman-sachs-and-kaszek-at-a-r2-7-billion-valuation\/","title":{"rendered":"A5X raises R$360 million in Series D led by Morgan Stanley, Goldman Sachs and Kaszek at a R$2.7 billion valuation"},"content":{"rendered":"\n

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S\u00e3o Paulo, September 14th, 2026 \u2013 A5X announces today that it has raised R$360 million in its Series D at a post-money valuation of R$2.7 billion. The round was led by new investors Morgan Stanley, Goldman Sachs and Kaszek, alongside participation from A5X\u2019s existing strategic shareholders, including IMC, Jump Trading, Optiver, XTX Markets and ABN AMRO Clearing. In parallel to the Series D, XP Inc. exercised its call option and has joined A5X\u2019s investor base. <\/p>\n\n

With this round, A5X has raised more than R$730 million across four funding rounds, bringing together a shareholder base that spans global investment banks, market makers, clearing institutions and leading Brazilian financial institutions<\/p>\n\n

Brazil is one of the world\u2019s largest derivatives markets yet remains one of the few of its scale served by a single trading and post-trading venue. With over 200 employees, A5X is building a new derivatives exchange and clearing house to introduce competition, accelerate product and technology innovation, deepen liquidity and improve market efficiency. <\/p>\n\n

The round fully funds A5X through its launch, expected in the first half of 2027, and first years of operations, including the regulatory and operating capital required to scale from day one and reach its breakeven.<\/p>\n\n

The round also marks the third consecutive investment by IMC, Jump Trading, Optiver, XTX Markets and ABN AMRO Clearing. Together with existing investor Ideal CTVM, controlled by Ita\u00fa Unibanco, these firms have backed A5X since its inception in a partnership that goes beyond capital. They are actively helping A5X build its platform and product portfolio towards launch and will help provide liquidity and accelerate growth once operational. <\/p>\n\n

A5X combines the London Stock Exchange Group\u2019s globally proven trading and clearing technology with proprietary technology and infrastructure developed specifically for Brazil, creating an integrated trading and post-trading platform designed for the scale and complexity of the Brazilian derivatives market and the specific requirements of its regulators.<\/p>\n\n

\u201cWe couldn\u2019t be prouder of the ecosystem we have built around A5X. Beyond the capital itself, we have brought together a world-class group of shareholders, spanning from some of the world\u2019s leading financial institutions to the most sophisticated participants in the global and Brazilian capital markets, which combined with a highly experienced team of over 200 employees and LSEG\u2019s globally proven technology materially strengthen our ability to successfully launch A5X and help transform the Brazilian capital markets. Our mission is to bring greater innovation, transparency and efficiency to an industry that we believe is ripe for change,\u201d said Carlos Ferreira Filho, CEO and co-founder of A5X.<\/p>\n\n

<\/p>\n\n

About our investors:<\/strong><\/h3>\n\n

ABN AMRO Clearing Bank:<\/strong> A global leading provider of integrated solutions in clearing execution, custody, financing, and risk management. With 11 offices globally, it services clients on 160+ exchanges, MTFs and FX liquidity centers, processing over 20 million trades daily, and consistently ranks amongst the top 3 clearing firms on most relevant derivatives exchanges globally. <\/p>\n\n

Goldman Sachs (NYSE: GS):<\/strong> A leading global financial institution that delivers a broad range of financial services to a large and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world. <\/p>\n\n

Ideal CTVM:<\/strong> Established in 2019 as an independent Broker Dealer, Ideal is a brokerage firm that offers securities and electronic execution services. The firm has become a reference for its highly scalable technology, and its robust governance while delivering innovation to its customers. Ideal services sophisticated institutional investors and, via operational partnerships, retail clients (a model known as B2B2C), on an agency only capacity. It has secured its position amongst the leading firms by traded volumes at B3. Ita\u00fa acquired the firm\u2019s control in 2023. <\/p>\n\n

IMC:<\/strong> A research-driven trading firm where quantitative modeling, machine learning, and engineering shape how modern markets are traded. IMC has been a stabilizing force in markets since 1989, providing liquidity across trading venues and delivering the best outcome in value and risk management to investors. Using its own technology and capital, it builds proprietary systems and algorithms that operate across global markets. Its venture capital arm, IMC Strategic Investments, connects innovative trading start-ups and scale-ups with the firm\u2019s world-class expertise and financial backing. <\/p>\n\n

Jump Trading:<\/strong> A global proprietary trading firm founded in 1999, Jump has spent more than two decades developing the research, infrastructure, and culture required to approach trading from every angle. With offices worldwide, Jump’s cross-disciplinary teams of traders, engineers, builders and researchers work from first principles to develop models, strategies, and systems engineered to perform at scale in live markets. To learn more about Jump Trading Group, visit www.jumptrading.com <\/p>\n\n

Kaszek:<\/strong> A leading venture capital firm in Latin America, partnering with the region\u2019s most exceptional entrepreneurs to build category-defining technology companies. Since 2011, the firm has raised approximately US$3 billion across nine funds and has backed many of LatAm\u2019s most iconic technology companies, including Nubank, QuintoAndar, Kavak, Creditas, Nuvemshop, Somos, ARQ, and Wellhub. Kaszek invests across sectors and stages, with focus on financial services, AI applications, and AI infrastructure in LatAm. The firm was founded by MercadoLibre co-founder Hern\u00e1n Kazah and former CFO Nicol\u00e1s Szekasy, bringing deep operating and entrepreneurial experience to its partnership with founders. <\/p>\n\n

Morgan Stanley (NYSE: MS):<\/strong> A leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm\u2019s employees serve clients worldwide including corporations, governments, institutions and individuals. For further information about Morgan Stanley, please visit www.morganstanley.com. <\/p>\n\n

Optiver: A global market maker founded in Amsterdam in 1986, with over 2,000 employees in offices around the world committed to improving the market through competitive pricing, execution and risk management. Through its Principal Strategic Investments (PSI) arm, Optiver forms long-term strategic relationships with leading companies linked to its core mission of improving markets. <\/p>\n\n

XP Inc.:<\/strong> A leading, technology-driven platform and a trusted provider of low-fee financial products and services in Brazil. XP\u2019s mission is to disintermediate the legacy models of traditional financial institutions by: (i) Educating new classes of investors; (ii) Democratizing access to a wider range of financial services; (iii) Developing new financial products and technology applications to empower clients; and (iv) Providing high-quality customer service and client experience in the industry in Brazil. <\/p>\n\n

XTX Markets:<\/strong> A leading algorithmic trading firm which uses state-of-the-art machine learning technology to produce price forecasts for over 53,000 financial instruments across equities, fixed income, currencies, commodities and crypto. The firm trades over $250bn a day across 35 countries and has over 300 employees worldwide <\/p>\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Morgan Stanley, Goldman Sachs and Kaszek join A5X\u2019s shareholder base in funding its Series D, securing the capital required for Brazil\u2019s new derivatives exchange to launch and reach its breakeven<\/p>\n","protected":false},"author":2,"featured_media":1893,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[40,1],"tags":[],"class_list":["post-1897","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-a5x-en","category-uncategorized"],"yoast_head":"\nA5X raises R$360 million in Series D led by Morgan Stanley, Goldman Sachs and Kaszek at a R$2.7 billion valuation - A5X<\/title>\n<meta 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