10 years ago

Kantox Raises $11M to Help Businesses Get Better Currency Exchange Rates

  • Kantox, a London-based fintech startup, has raised $11 million in Series B funding

  • The round was led by Partech Ventures and also included IDinvest Partners and Cabiedes & Partners

  • Kantox offers a marketplace for businesses to exchange currency, including peer-to-peer, enabling them to get significantly better exchange rates than banks or traditional brokers

  • The company claims to have 1,500 corporate clients and has processed $1 billion worth of transactions since launch

      • ProblemFinancial Services

      "SMEs and mid-cap companies are unable to negotiate fair exchange rates with banks and traditional FX brokers, leading to unfair pricing and a lack of transparency."

      Solution

      "Kantox provides a transparent FX management platform that allows SMEs and mid-caps to manage their FX the same way that large corporations do, but without being charged extortionate rates. This is achieved through a peer-to-peer marketplace that enables businesses to exchange currency at better rates than traditional banks."

      Covered on