Kantox completes second debt financing with €5m
Kantox, provider of FX management solutions for businesses, has just closed its second venture debt financing deal with Silicon Valley Bank (SVB), a €5 million loan package.
This is the second deal agreed between Kantox and SVB, with the first announced in December 2017.
Philippe Gelis, CEO and co-founder at Kantox says, “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, adds: “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 success has been driven by its currency management and payment solutions, including its automated micro-hedging solution, Dynamic Hedging.
Over 3,500 clients in 25 industries have already exchanged more than €8.6 billion with Kantox, the firm says.