Tenora wins FCA licence as Macquarie backs growth

By Aarav Garg

Tenora Financial Group has secured a key regulatory licence alongside fresh institutional backing, marking a significant step in its expansion across foreign exchange (FX) infrastructure.

The company said its UK subsidiary, Tenora Financial Solutions Limited, has been authorised by the Financial Conduct Authority (FCA) as an Electronic Money Institution (EMI). At the same time, Macquarie Group has increased its stake in Tenora to 33%, following approval from the Australian Prudential Regulation Authority (APRA).

The dual milestones strengthen Tenora’s regulatory and capital foundation as it scales its FX risk management platform. The company is focused on delivering end-to-end FX lifecycle orchestration, connecting pre-trade analysis, execution, and post-trade processes within a single, integrated environment.

Harry Adams, Founder and Chief Executive Officer of Tenora, commented, “Tenora was founded with a mission to bring greater transparency and data-driven precision to an industry that has historically lacked both. Our FCA authorisation as an Electronic Money Institution is a key milestone in our journey. It is a reflection of our core to embed governance standards and institutional infrastructure in everything we do.”

With EMI authorisation, Tenora can now issue electronic money, provide regulated payment services, and safeguard client funds. The licence also enables the firm to offer multi-currency virtual IBANs and cross-border payment capabilities, embedded within its TruHedge platform. This allows clients to manage FX exposure, hedging strategies, and settlement flows through a unified, regulated infrastructure.

Arturo Alonso, Senior Managing Director, Macquarie Commodities and Global Markets, added, “As AI reshapes how people interact with software, businesses need strong, defensible foundations to scale securely and competitively. Tenora’s FCA-authorised EMI licence, combined with its AI-native technology, is distinctive in the market and provides a strong platform for expansion. Macquarie is pleased to support the company as it enters its next phase of growth.”

The increased investment from Macquarie signals continued institutional backing for Tenora’s model, particularly as demand grows for more transparent and consolidated FX workflows. Fragmentation across trading, treasury, and payments systems remains a persistent challenge for corporates and financial institutions managing currency risk across multiple markets.

By integrating these functions, Tenora aims to reduce operational complexity, improve visibility, and support more efficient decision-making across the FX lifecycle. The combination of regulatory approval and strategic investment positions the company to expand its offering and deepen its presence in global FX and payments markets.