Kantox forms strategic partnership with BNP Paribas for support with foreign exchange services

Kantox, which builds foreign exchange risk management solutions, has formed a strategic partnership with BNP Paribas.

The deal enables BNP Paribas to offer its EMEA clients the Kantox Dynamic Hedging solution. This service allows corporate treasurers to fully automate and streamline FX workflows and will complement the existing digital banking services from BNP.

Kantox is based in London and builds currency and risk management solutions to help businesses with foreign exchange operations. Tools can be used to capture exposure data and automate hedging execution, process international payments, collect funds in 29 different currencies, and minimise temporary P&L volatility with hedge accounting.

BNP Paribas co-head of corporate rates, FX and local markets sales EMEA Xavier Gallant, said: “When it comes to managing foreign currency risk, we are seeing a real need for our corporate clients to improve efficiencies in forecasting their future cash flows, formalising hedging practices and optimising execution through automation.

“BNP Paribas’ partnership with Kantox will offer corporate treasurers in EMEA the opportunity to access a fully automated hedging solution and ultimately improve their treasury processes. We look forward to a successful partnership.”

This partnership comes just months after Kantox collected a €5m venture debt loan package from Silicon Valley Bank. The deal was an extension on a previous loan from Silicon Valley Bank and was provided to support the growth and innovation of the platform.

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