22 June 2017
Visit cib.db.com

P2P FX platform Kantox raises EUR6.5m

10 February 2014  |  6166 views  |  0 cash

Kantox, a London-based peer-to-peer foreign exchange trading platform for SMEs and mid-caps, has raised EUR6.5 million in a series a funding round.

The financing round was led by Partech Ventures and Idinvest Partners, and joined by existing investor Cabiedes & Partners. The new money comes on top of a EUR1 million seed investment in July 2012.

Pitching itself as an alternative to fee-greedy banks and brokers for SMEs and mid-caps looking to trade forex, Kantox already claims more than 500 corporate clients all over Europe and is expecting its platform to process over one billion euros of transactions in the year to come.

The start-up says that it is shining a light on the opaque FX market, helping smaller firms get fair and transparent access. The platform displays the mid-market rates and offers businesses the opportunity to match their transaction requirements with other companies through its P2P model.

The latest funding will be used to further develop Kantox's technology and consolidate its presence across Europe.

Philippe Gelis, CEO Kantox, says: "The Internet brings unprecedented possibilities for SMEs to trade internationally. FX volatility, and an inability to hedge, is one of the key barriers these companies face as they set their sights overseas - we are determined to help them overcome this and achieve their full revenue potential."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Tradition launches spot FX trading platform

Tradition launches spot FX trading platform

18 April 2013  |  6052 views  |  0 comments | 2 tweets | 1 linkedin
Coinsetter raises $500k for bitcoin FX trading platform

Coinsetter raises $500k for bitcoin FX trading platform

10 April 2013  |  7803 views  |  0 comments | 6 tweets | 1 linkedin
Regulators move to curb FX settlement risks

Regulators move to curb FX settlement risks

21 August 2012  |  6211 views  |  0 comments

Related blogs

Create a blog about this story (membership required)
visit www.events.sap.comvisit www.www.fisglobal.comvisit dh.com

Top topics

Most viewed Most shared
Santander's Openbank relaunched as 100% digital bankSantander's Openbank relaunched as 100% di...
15652 views comments | 48 tweets | 61 linkedin
Worldpay pilots app-only mPOS for small retailersWorldpay pilots app-only mPOS for small re...
8078 views comments | 17 tweets | 25 linkedin
satelliteBlockchain bank Babb appoints Ripple advis...
7492 views comments | 9 tweets | 1 linkedin
Live: EBAday 2017, day twoLive: EBAday 2017, day two
7291 views comments | 4 tweets | 5 linkedin
UK banks will need to change one million sort codes under ring-fencing rulesUK banks will need to change one million s...
7160 views comments | 8 tweets | 25 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job