Kantox has closed its second venture debt financing from Silicon Valley Bank, securing a new €5m loan package.
This new deal comes after an initial loan from Silicon Valley Bank in 2017 and will be used to support Kantox’s ongoing growth and further innovate within the foreign exchange market.
London-headquartered Kantox has designed currency and risk management solutions to support organisations with their foreign exchange challenges. Its platform can be used to capture FX exposure data and automate hedging execution, process international payments, collect funds in 29 different currencies, and minimise temporary P&L volatility with hedge accounting.
To support the risk management of operations, Kantox gives dynamic hedging tools, letting a company gain full control of their FX risk and micro-hedge foreign currency transactions.
Its technology is used by 3,500 clients which span 25 industries and has helped them to exchange over €8.6bn.
Silicon Valley Bank UK branch vice president Craig Fox said, “We appreciate the opportunity to work closely with Kantox to support its continued growth. Kantox is one of the most innovative and exciting Fintech companies coming out of Europe.
“The team at Kantox is building a market-leading, fully integrated platform to facilitate the seamless management of micro FX exposures, which is an area that presents considerable growth opportunities.”
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