Argentex founder secures funding injection for new fintech firm
The founder of foreign exchange firm Argentex, which collapsed in the wake of Donald Trump’s ‘liberation day‘ last year, has secured a multi-million pound funding injection for his new fintech venture, City AM has learned.
Irish payments and foreign exchange (FX) group Fexco will invest £7.5m in Tenora, an FX technology firm set up by Harry Adams, who founded Argentex and left 18 months before its collapse in 2025.
The London-listed FX firm became one of the most high-profile corporate casualties of Trump’s tariffs when it was brought down by wild currency swings in the days following the announcement. Adams has since demanded an investigation into the company’s failure.
The fresh investment for Tenora, which follows backing from Australian investment giant Macquarie last year, is made up of a £5.5m equity investment and a £2m funding line.
Adams told City AM Tenora would use the capital to expand beyond FX into the corporate Treasury market.
“Fexco has spent more than four decades building payments and FX infrastructure at global scale,” he said. “Its experience will be hugely valuable as we expand Tenora beyond FX and build the next generation of corporate treasury infrastructure.”
Tenora said its new “Treasury Orchestration” tool would allow firms to manage their FX risk, cash supply and payment on a single platform. The new funding comes after Tenora secured FCA authorisation as an Electronic Money Institution in recent months.
Sean Crowe, chief of financial services at Fexco, has also joined Tenora’s board as part of the deal.
“Tenora is applying modern technology to an area of the market where many processes remain manual and disconnected,” Crowe said.