Quadcode, the owner of brokerage firm IQ Option, has acquired a “significant stake” in Game 7, the owner of prop trading technology providers FPFX and PropAccount.com, and prop firm BullRush. The terms of the deal were not disclosed.
In a statement, the companies said that the deal would help the two firms build out offerings across prop trading, prediction markets, and daily fantasy sports.
“We are incredibly excited to welcome Quadcode as a strategic partner,” said Justin Hertzberg,
CEO of FPFX Technologies and PropAccount.com.“ Their team brings extensive institutional
experience and a forward-thinking approach to building technology that engages global retail
audiences. Together, we believe we can push the boundaries of retail prop trading with new and
exciting gamified trading experiences.”
The two companies have a level of prior history, as Hertzberg helped Quadcode establish its presence in the US. That company would ultimately be sold to prediction markets platform Polymarket for $112m, in a deal that combined cash and equity.
“Game 7 has established itself as the pioneer and unequivocal leader in prop trading and competition software solutions worldwide,” said Sergei Dobrovolskii, CEO of Quadcode.
“By partnering with them, Quadcode will be able to leverage its experience building trading engines and retail-facing platforms to help accelerate growth. We see tremendous opportunity to expand the company’s technological capabilities and extend its reach into new markets, new financial products, and innovative forms of retail trading participation.”
