Belgian fintech startup FX4BIZ has raised €10m in funding and pivoted its business from an SME-focused currency-transfer operator to a banking-as-a-service platform.
As part of the pivot the company is rebranding to IbanFirst.
The names of the round’s investors are undisclosed.
IbanFirst’s platform connects SMEs to a network of fintech startups with the aim of replacing the role of traditional banks.
The company was founded by former head of Western Europe at Saxo Bank Pierre-Antoine Dusoulier and is regulated and licensed by the Belgium National Bank.
Services currently available include access to credit, international payments and investment services.
Having recently signed its first partnership with French startup YounitedCredit IbanFirst says it aims to introduce additional services including invoicing and startup incorporation.
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