Kwanji, a London, UK-based tech startup working to simplify foreign exchange mechanisms for small businesses, completed an initial seed funding round of undisclosed amount.
The round was led by Mercia Fund Management under the Seed Enterprise Investment Scheme.
The company intends to use the funds to further develop its Kwexc platform.
Launched in 2013 by CEO Leslie Onyesoh and William Lorenz, Kwanji has developed an online foreign exchange portal which enables small businesses from all over the world to quickly choose the best foreign exchange mechanism and transaction rate and reduce cost and time wasted comparing brokers.
Kwexc charges 1-1.5% on any such transaction.