Leading UK Fintech Kantox reaches $10 billion milestone

Kantox, a leader in FX management solutions for businesses, has achieved a new milestone, announcing today that clients have exchanged more than USD 10 billion on its FX platform since the company’s launch in 2011. This figure – which was recorded as $10,279,683,340 on June 18 – is a nod to the company’s growth in recent years.

“This is an important internal milestone for us and one that we are proud to achieve,” said Philippe Gelis, CEO and co-founder of Kantox. “Our ambition is to fully automate FX management and payment processes so that companies can hedge FX risk, exchange currencies and make payments in foreign currencies as easily as they can in local ones. We are well on our way to achieving that with the launch of several new products and partnerships with leading banks,” concluded Gelis.

As Kantox continues to scale, with a recorded growth rate of 482% between 2015-2018, the company has been consistently awarded and is considered a global fintech reference for FX risk management. This growth has been driven by its innovative currency management and payment solutions including Payments Factory and Dynamic Hedging, with the company recently launching Kantox Currency Accounts in 29 different currencies.

Kantox has appeared on the Financial Times’ FT 1000 list in 2018 and 2019 and was named a Deloitte Technology Fast 50 UK winner for three consecutive years, 2016 to 2018, and Deloitte Fast 500 EMEA Award winner in 2016 and 2017. Its micro-hedging solution, Dynamic Hedging, was also named Best Risk Management Solution by Treasury Management International in 2019.

Author: Yash Hirani

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