Currenxie raises USD 10 million in Series A funding round
Friday, August 13, 2021
(IBS Intelligence by Leandra Monteiro) – Currenxie, the Hong Kong based cross-border payments company, recently announced that it has successfully closed a USD 10 million Series A funding round led by family office BF Belmont.
While global travel has slowed down due to the ongoing COVID-19 pandemic, the demand for cross-border trade and global eCommerce has increased. However, traditional payment solutions remain expensive, restrictive, and cumbersome to most businesses, both big and small. Innovation is needed to improve the situation, which Currenxie is well placed to continue providing with the proceeds from the fundraising.
Predominantly self-funded by Goldman Sachs alumni and co-founders, Riccardo and Alison Capelvenere, the latest capital injection will allow Currenxie to accelerate its vision of empowering businesses to access global commerce. The funds will be used to focus on building new products, acquiring new licenses and authorisations, expanding into new markets and accelerating recruitment. The firm sees these goals as intertwined in enabling its clients to achieve global growth. Currenxie will also be welcoming Gordon Kwong, a former Partner of a big four international accounting firm, to its board, as the official investor.
