Cross-border payments firm of ex-Goldman Sachs execs bags $10m in series A money

Currenxie, a Hong Kong-based fintech firm, closed a US$10 million series A round led by family office BF Belmont.

Founded in 2014, Currenxie is a cross-border payments and business account solutions firm that offers alternatives to traditional banking. The startup had so far been mostly self-funded by co-founders Riccardo and Alison Capelvenere, who are both former Goldman Sachs executives.

Photo credit: Currenxie

Currenxie has a cloud-based core banking system that lets businesses move funds internationally in real time without incurring costly cross-border fees. The firm also offers multicurrency digital accounts and real-time currency exchange, with a Visa card for Hong Kong businesses in the works. Currently, Currenxie’s virtual network handles 18 currencies spanning 10 jurisdictions and 30 countries.

The fresh funds will go toward acquiring licenses and authorizations as the company enters new markets and steps up hiring. The startup also aims to address the high costs and restrictions associated with traditional payment solutions when it comes to global ecommerce transactions, which have picked up steam during the Covid-19 pandemic.

“From the start, we have focused on building a platform that will give our clients access to a truly borderless economy,” said Riccardo, who also acts as Currenxie’s CEO. He added that the startup was prepared for a surge in demand for seamless cross-border solutions.