Investments

Currency Exchange Marketplace for SMEs ‘Kantox’ Raises $11M Funding

London headquartered ‘Kantox’, a currency exchange startup has raised $11 million in Series B funding. The funding is led by Partech Ventures, and IDinvest Partners. Cabiedes & Partners have also participated.

All three of the investors are existing backers and the new investment brings total funding raised by the company since inception to $19 million.

The company was founded in 2011 by Philippe Gelis .Earlier this year, Kantox reached the landmark of $1 billion worth of transactions processed on its platform, with $0.5 billion being completed in the last three months alone, as reported by Techcrunch.

The startup claims to have around 1,500 corporate clients, ranging from small businesses to mid-cap companies with revenues in the billions, including a number of publicly-listed companies. They span over 18 industries, including technology, pharmaceutical, electronics, tourism, transport and even fast-growing startups.

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