Hong Kong cross-border payments start-up Currenxie raises US$10 million in Series A funding
- The investment will allow the seven-year-old company to expand its product offering, enter new markets in Europe and Southeast Asia and double its headcount, according to CEO Riccardo Capelvenere
- Company was founded in 2014 by Capelvenere and his wife, both Goldman Sachs alumni
Currenxie, a Hong Kong cross-border payments and business account services start-up, said on Thursday it would take on its first outside investors with a US$10 million round of Series A funding led by family office BF Belmont.
The investment will allow the seven-year-old company to expand its product offering, enter new markets in Europe and Southeast Asia and double its headcount, according to CEO Riccardo Capelvenere. It employs 35 people globally.
“We sat back and we said we’ve built an enormous amount of infrastructure here. We’re on par with a handful of companies around the world that have built all of this. It became evident to us: why don’t we actually leverage that way? Why don’t we go more global? Why don‘t we do the other things that the other players are doing?” Capelvenere said.
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Currenxie offers multicurrency digital wallets, virtual bank accounts, payments and currency exchange services for businesses, with operations spanning 18 currencies and 30 countries. The company is a licensed money service operator in Hong Kong and holds a money lenders licence here.
The company is starting the application process for an e-money licence in Ireland and hopes to add staff on the ground in Dublin next year.