– UK, London – Partech Ventures today announced that it has co-led a new €10MM financing round in Kantox, the pioneer 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”explained 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” specified 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,” explained 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”, added 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” explained Collombel.
Partech Ventures has made a number of investments in the FinTech sector, with investments in Lendix (Paris), Auxmoney (Berlin), Bolt (San Francisco) and Kantox (London). The firm continues to seek other seed and early stage opportunities within the sector.
About Partech Ventures
Partech Ventures is an investor focused on high growth companies in the digital and information technology fields. It manages seed (Partech Entrepreneur), venture (Partech International) and growth capital funds (Partech Growth). Located in the Silicon Valley, Paris and Berlin, the Partech team has extensive experience in the international development of companies. Throughout its history, Partech Ventures portfolio companies have completed 21 initial public offerings and more than 50 M&A transactions with major international companies at values in excess of $100M. Preqin, an independent global research firm, has acknowledged Partech Ventures as one of the ten best performing venture capital funds in the world and the only European fund in the top 25.
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