Currenxie Closes a US$10M Series A to Bring a New Era of Access to Global Commerce and Borderless Payments
Global travel is still at an all-time low due to the ongoing COVID-19 pandemic, however, the demand for cross-border trade and global eCommerce has never been higher. Yet, one of the main factors plaguing most of the big and small businesses that make trillions of dollars in cross-border payments annually remains the expensive, restrictive and cumbersome traditional payment solutions.
Innovation is needed to improve the situation, which is why we are thrilled to announce that we have successfully closed a US$10 million Series A funding round led by family office BF Belmont. With the capital raised, we aim to contribute to a new era of global commerce and continue to drive innovation whilst offering businesses of all sizes affordable, fast and reliable borderless payment solutions. The capital raised will be used to focus on building new products, acquiring new licenses and authorisations, expanding into new markets and accelerating recruitment.
Riccardo Capelvenere, Founder and CEO of Currenxie, said, “From the start, we have focused on building a platform that will give our clients access to a truly borderless economy. Thanks to BF Belmont, we’re now able to accelerate our global growth and expansion plans – creating more value that will be transferable to our clients. The demand for seamless cross-border solutions will only increase, and our high calibre team is ready for this opportunity.”
Official investor representative and newly nominated Director of Currenxie, Gordon Kwong, adds: “With their many decades’ worth of experience, the Currenxie team has developed an impressive plan for the future of payments - one that will capture the global growth in eCommerce. The combination of their proprietary technology, network and infrastructure demonstrates their readiness to succeed in - and shake up - the cross-border payments ecosystem and set a new standard within the financial industry. We’re excited to be a part of this journey.”
Founded in Hong Kong in 2014, Currenxie’s cross-border payments and business account solutions offer businesses of all sizes a seamless online alternative to traditional banking, breaking down the financial barriers that prevent them from growing their operations on the world stage. We have built one of the largest virtual account networks in the B2B fintech space, spanning 10 jurisdictions, 30 countries and 18 currencies. The Currenxie Global Account® platform – our cloud-based core banking system – allows funds to flow freely across its banking network, in real-time, without costly cross-border fees.
Access global commerce by signing up for your free Global Account today.