Partech Ventures has co-led a new EUR10 million financing round in Kantox, a specialist in foreign exchange services for SMEs and mid-cap companies.
“With our 2nd significant investment in 18 months, Partech Ventures reaffirms its full commitment to Kantox,” says Philippe Collombel, Managing Partner at Partech Ventures and Kantox board member.
“Kantox is a fast growing company, with a clear business model led by a strong, visionary and ambitious management team”, adds Philippe Collombel, who also added “with its disruptive model, Kantox can soon become the worldwide leader in foreign exchange services for SMEs and mid-cap companies.”
“We are very proud to announce this new with Partech Ventures and IDinvest Partners. This underscores their commitment, trust and precious support for our strategy that will enable us to accelerate our deployment and growth,” says Philippe Gelis, CEO and co-founder of Kantox, “this funding will help us go further in the development of our product and bring our services to more SMEs and mid-cap companies, that will eventually benefit from an efficient and transparent foreign exchange management platform at the best price.”
In addition Kantox today announced that Patrick de Nonneville, a former partner and co-head of European interest rates products at Goldman Sachs, has joined the Board.
“The Board of Directors is delighted to benefit from the deep technical expertise and immense experience of Patrick; this is also a validation of Kantox’s huge market potential,” says Philippe Collombel.
This new investment follows Partech Ventures’ strategy to invest in companies that are able to disrupt traditional markets, by modifying the core rules of major sectors.
“Finance is at the heart of digital transformation and FinTech constitutes an important investment sector for Partech Ventures,” says Collombel.
