Today, the company is announcing its largest funding round to date: a Series A investment of €6.5 million (approximately $9 million). The round was led by Partech Ventures and IDinvest Partners, which joined previous investor, Cabiedes & Partners.
The new investment brings the company’s funding total to more than $12 million. Kantox plans to use the capital to help develop its peer-to-peer trading technology, as well as to expand the company’s presence in Europe. Philippe Gelis, Kantox CEO, said, “We are extremely excited to have secured this latest round of funding, and can’t wait to continue building out our sales teams in Germany, France, Spain, the UK and Italy.”
- Serves more than 500 corporate clients
- Anticipates processing more than 1 billion euros in transactions in 2014.
- Provides ability to trade more than 25 international currencies
- Saved more than 70% of its customers more than 80% compared to banks and brokerages