• Kantox

  Participated · Equity · Sep 2012

  Kantox provides a platform for corporate currency hedging and FX risk management, offering specialized products for industries such as fashion and travel. The platform enables companies to automate FX management, connect cash flows, and directly exchange currencies peer-to-peer rather than through banks. The company has been shifting toward broader solutions to avoid a price war in FX, including automation, cash-flow management features and ERP integration. Financially, Kantox has raised more than €21 million through multiple equity rounds and has taken on venture debt from Silicon Valley Bank. SVB has provided €7 million of debt in total (a €2M facility in late 2017 plus a €5M venture debt loan in 2019). Kantox was founded in 2011 and operates with a headquarters in London and a main office in Barcelona. Kantox is a British fintech headquartered in Barcelona that offers Dynamic Hedging to automate currency-risk management for international companies. The company was nominated for the second consecutive year among the 50 fastest-growing technology companies. In December 2017 Kantox closed a venture-debt financing agreement with Silicon Valley Bank. SVB’s Craig Fox praised Kantox for creating value and leading its market by solving real problems. CEO and cofounder Philippe Gelis said the SVB deal is a milestone and a first step toward broader technological and product collaboration with financial institutions. Kantox reported multiple collaboration projects with banks in the U.K. and other European countries and anticipated an active 2018. Kantox provides a software platform and marketplace to help companies manage currency exposure and hedge FX risk, offering specialized products for industries such as fashion and travel. The platform enables companies to trade currencies peer-to-peer rather than through banks and includes automation, cash-flow management and ERP connectivity features. Founded in 2011 by Philippe Gelis, John Carbajal, Antonio Rami, Marek Fodor and Laurent Descout, the company is headquartered in London with a main office in Barcelona. In 2015 Kantox reported £2.3M in commission revenue and was close to breaking even between revenues and expenses. The company has initiated a shift in its business model to avoid a price war in FX exchange and to broaden its solutions to cover more customer needs. The €5M raise will be used to accelerate that model change and to prepare for the entry of new investors ahead of a planned subsequent round at least a year out. Kantox is a London-based provider of foreign exchange services for SMEs and mid-cap companies. Led by CEO and co-founder Philippe Gelis, the company offers a comprehensive FX management platform with live mid-market rates updated in real time, FX rate alerts, multi-user and multi-subsidiary accounts, a client FX information dashboard, and trading access Monday to Friday. The company raised €10m in funding to develop its product and expand adoption among more SMEs and mid-cap companies. The round was led by Partech Ventures with participation from IDinvest Partners. Patrick de Nonneville joined the Board following the round. The article did not disclose operating metrics or other financial details. Kantox operates a P2P FX marketplace that displays mid-market rates and lets businesses match their transaction requirements with other companies to avoid banks and brokers. The platform enables SMEs and “mid-caps” to exchange currency for the purpose of money transfer across more than 25 supported currencies. Founded in 2011 by Philippe Gelis and based in London and Spain, the company says it has traded $300 million since launch and serves more than 500 corporate clients. Kantox has grown its team to 45 employees. The company plans to use new capital to further develop its technology and consolidate its presence across Europe. It competes with other P2P currency-exchange services such as CurrencyFair, TransferWise and TransferGo.

No current team members are available.