AbbeyCross, a NYC-based wholesale FX platform focused on improving the payment market infrastructure for Emerging Market currencies, raised US$6.5M in seed funding in a round announced in January 2024.
The round, which followed a pre-seed funding led by Third Prime last year of US$2.47M, led by Valar Ventures with participation from BNY Mellon, Third Prime and Gaingels.
The company intends to use the funds to further develop and deploy its ABX Sync platform.
Led by Mike Robertson, CEO, and Adrian Brown, COO, AbbeyCross provides a platform that enables banks, payment companies and NGOs to reduce costs, improve operational efficiency, enhance supervisory processes, and ensure regulatory compliance. Working with global banks, their currency suppliers, and other financial services providers, AbbeyCross brings deep currency liquidity, price transparency and market data to a fragmented Emerging Market currency payment industry.
FinSMEs
11/03/2024