Kantox, a London, UK-based provider of foreign exchange services for SMEs and mid-cap companies, raised €10m (approx. US$10.9m) in funding.
The round was led by Partech Ventures with participation from IDinvest Partners. In addition, Patrick de Nonneville, a former partner and co-head of European interest rates products at Goldman Sachs, joined the Board.
The company intends to use the funds to develop its product and expand adoption among more SMEs and mid-cap companies.
Led by Philippe Gelis, CEO and co-founder, Kantox provides foreign exchange services to SMEs and mid-cap companies. The platform is a comprehensive FX management system, with features and benefits including live mid-market rates updated in real time, FX rate alerts, a multi-user and multi-subsidiary account, client FX information dashboard and trading access round the clock Monday to Friday.