Kantox closed its second venture debt financing deal with Silicon Valley Bank.
The €5 million ($6.4 million) loan package is the second deal agreed to between Kantox and SVB. The new financing agreement underscores the appeal of Kantox’s growth story and SVB’s track record of investing in disruptive companies.
Philippe Gelis, CEO and co-founder at Kantox, said, “We have a very strong relationship with Silicon Valley Bank and are happy to have them support Kantox again with more venture debt. This investment will contribute to our ongoing growth trajectory as we continue to bring more technology to the FX market.”
Craig Fox, vice president at Silicon Valley Bank’s UK Branch, added, “We appreciate the opportunity to work closely with Kantox to support its continued growth. Kantox is one of the most innovative and exciting Fintech companies coming out of Europe. The team at Kantox is building a market-leading, fully integrated platform to facilitate the seamless management of micro FX exposures, which is an area that presents considerable growth opportunities.”
London-based Kantox builds software solutions that help businesses to overcome complex FX challenges and leverage foreign currencies for growth.
