Business Currency Exchange Startup Kantox Raises $11M Series B


TechCrunch

Another London-headquartered fintech startup, albeit one with a development and marketing team in Spain, has raised more capital of its own. This time it’s the turn of Kantox. The currency exchange marketplace for SMEs right up to ‘mid cap’ companies has raised $11 million in Series B funding.

Leading the round is Partech Ventures, and IDinvest Partners, while Cabiedes & Partners also participated. All three are existing backers and the new investment brings total funding to $19 million.

Founded in 2011 by former Deloitte employee Philippe Gelis, Kantox offers a marketplace for businesses to exchange currency, including peer-to-peer, thus enabling them to get a significantly better exchange rate than that offered by the banks or traditional brokers.

“Large companies have resources, knowledge and leverage to manage their FX in a smart way and to negotiate fair prices with banks. On the contrary, SMEs and mid-caps are unable to do so…

View original post 263 more words

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s