Assure Hedge, which helps to automate currency hedging, has reportedly collected €5m in fresh funding round.
This funding round puts the FinTech’s valuation at €30m, according to a report from Silicon Republic.
The company is looking to raise its Series A later in the year.
Assure Hedge, which has offices in Ireland, the UK and Portugal, provides companies with automated digital and phone-based foreign exchange hedging solutions. Its services are specifically designed to integrate with existing product suites FX brokers, FinTechs and money service businesses might be using.
The FinTech has experienced strong growth over the past year. It claims to have doubled its client base in 2020 and is expecting the same again for 2021.
Assure Hedge chief executive Barry McCarthy told Silicon Republic, “Given the response we have had to date, we are confident that we are still only scratching the surface of demand from SMEs looking for an easy way to manage foreign exchange exposure.
“Whether it is coping with the volatility in sterling caused by Brexit, or handling the rollercoaster ride of the dollar through quantitative easing, our mission is to ensure that the ability to hedge foreign exchange risk at low cost is no longer the preserve of big corporates.”
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