Kantox Raises $11M in Series B

What does Kantox do?

Kantox, is an online finance platform which provides currency exchange and international payment solutions. It is a foreign exchange provider which offers SMEs and a comprehensive solutions to mid cap companies for their foreign exchange needs, based on the efficiency, transparency and value. It is a comprehensive FX management system, with benefits and features that include mid market rates in live which are updated in real time, FX rate alerts, multi-subsidiary account, multi user account, total client FX info dashboard and trading access 24 x 7.

This currency exchange marketplace was born out of the idea of dis-intermediating bansk and brokers from the foreign exchange process, thus reducing the costs and admin time for companies.

How much Kantox was funded?

Kantox raised $$11M in Series B funding on May 27, 2015 from Cabiedes & Partners, Partech Ventures and Idinvest Partners.

  • Previous funding
  • €150k in Seed funding on July 1, 2011 from François Derbaix, Carlos Blanco, Marek Fodor and KOMM Investment
  • €1M in Seed round on September 3, 2012 from FX Street, François Derbaix, Lanzame Capital, Carlos Blanco, Cabiedes & Partners and Marek Fodor
  • €6.4M in Series A funding on February 10, 2014 from Idinvest Partners, Cabiedes & Partners and Partech Ventures

What is next for Kantox?

The funding will be used to accelerate its growth. As a part of the funding, Patrick de Nonneville will join its board of directors. It has plans to triple its growth each years for 5 years and is targeting $2B in transactions by the end of this year.

More about Kantox

Kantox was founded in June 3rd, 2011 by Antonio Rami and Philippe Gelis. It has its headquarters in London. This startup claims that is has more than 1,500 corporate clients, ranging from small businesses to mid cap companies with billions in revenue, including many publicly listed companies.