UK Fintech Kantox Closes €5 million Venture Debt Financing Agreement with Silicon Valley Bank

UK Fintech Kantox Closes €5 million Venture Debt Financing Agreement with Silicon Valley Bank
17.04.2019 09:22 am

UK Fintech Kantox Closes €5 million Venture Debt Financing Agreement with Silicon Valley Bank

Foreign Exchange

Kantox, a leader in FX management solutions for businesses, has just closed its second venture debt financing deal with Silicon Valley Bank (SVB), the bank of the world’s most innovative businesses, enterprises and their investors.

The €5 million loan package is the second deal agreed between Kantox and SVB, with the first announced in December 2017. The new financing agreement underscores the appeal of Kantox’s growth story and SVB’s track record of investing in disruptive companies.

Philippe Gelis, CEO and co-founder at Kantox said, “We have a very strong relationship with Silicon Valley Bank and are happy to have them support Kantox again with more venture debt. This investment will contribute to our ongoing growth trajectory as we continue to bring more technology to the FX market.”

Craig Fox, Vice President at Silicon Valley Bank’s UK Branch added, “We appreciate the opportunity to work closely with Kantox to support its continued growth. Kantox is one of the most innovative and exciting Fintech companies coming out of Europe. The team at Kantox is building a market-leading, fully integrated platform to facilitate the seamless management of micro FX exposures, which is an area that presents considerable growth opportunities.”

Kantox’s success has been driven by its currency management and payment solutions, including its award-winning automated micro-hedging solution, Dynamic Hedging, which was recently named Best Risk Management Solution by Treasury Management International.

The company has appeared on the Deloitte UK Technology Fast 50 list each year since 2016 and was also named one of the fastest-growing Top 250 fintech companies globally by CB Insights. Over 3,500 clients in 25 industries have already exchanged more than €8.6 billion with Kantox.

Related News

Bank of China teams up with Refinitiv to launch new foreign exchange price prediction app DeepFX

Bank of China has launched DeepFX, an artificial intelligence-based foreign exchange trading signal prediction application through Eikon, the first released third-party Eikon... Read more »

Wirecard and Singapore’s largest currency exchange network FXChange simplify payments for every traveler

Wirecard, the global innovation leader for digital financial technology and FXChange, Singapore’s largest self-service currency exchange network, are collaborating to provide... Read more »

CLS launches its first data product for FX forward market

CLS, a market infrastructure group delivering settlement, processing and data solutions, is releasing an FX Forward Volume dataset as part of its comprehensive suite of... Read more »

BNP Paribas partners with Kantox

BNP Paribas today announces its strategic partnership with Kantox, a leading fintech specialising in FX risk management solutions.

The agreement enables... Read more »

Daniel Clayden joins BEQUANT as Head of Product Development

BEQUANT, the leading cryptocurrency exchange, announced today that it has hired Daniel Clayden as its new Head of Product Development. With 25 years’ experience in Capital... Read more »

CoinEx plans to build a public chain for its decentralized exchange

CoinEx is about to build a public chain CoinEx Chain for decentralized trading. The website was launched on March 22 and a CoinEx Chain-based decentralized trading platform... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel