Kantox, a London, UK- and Barcelona, Spain-based FX firm providing SMEs and mid-caps with a foreign currency exchange solution via a peer-to-peer (P2P) trading platform, raised €6.5m in Series A funding.
The company intends to use the funds to further develop its technology and consolidate its presence across Europe.
Led by Philippe Gelis, CEO, Kantox offers SMEs and mid-cap companies, with revenues of up to 4 billion Euro, a foreign currency exchange solution via a peer-to-peer trading platform, allowing them to avoid the high and often hidden fees charged by banks and brokers. On the platform, they can trade over 25 currencies.
Clients include SMEs and mid-caps spanning over fifteen industries, among which retail, technology, pharmaceuticals, media, publishing or manufacturing.
Kantox, which had raised €1m in July 2012 (read here), has a team of 45 employees.