Kantox, a London-based FinTech firm that specializes in FX management, as per recent reports, has closed its second venture debt financing round, with a €5 million loan package from Silicon Valley Bank (SVB), a Santa Clara, California-based high-tech commercial bank and one of the largest banks in the US.
As per reports, the recent debt financing round was the second agreed upon deal between the two organizations, who collaborated earlier in Dec. 2017.
Speaking on this context, Philippe Gelis, CEO and co-founder at Kantox said, “We have a very strong relationship with Silicon Valley Bank and are happy to have them support Kantox again with more venture debt. This investment will contribute to our ongoing growth trajectory as we continue to bring more technology to the FX market.”
Craig Fox, vice president at Silicon Valley Bank’s UK Branch, also commenting on this, said, “The team at Kantox is building a fully integrated platform to facilitate the seamless management of micro FX exposures, which is an area that presents considerable growth opportunities.”
Kantox’s currency management and payment solutions, along with its automated micro-hedging solution – Dynamic Hedging – are amongst the sole contributors to its success. The London-based FX management solutions provider has over 3,500 clients in 25 industries all around the world, who as per reports, have already exchanged more than €8.6 billion with the firm.