Kantox

Kantox Ltd is a multinational fintech company that offers Currency Management Automation software for corporate clients. Their software automates the pre-trade, trade, and post-trade stages of the corporate foreign exchange (FX) workflow.

Kantox Ltd
TypeSubsidiary
IndustryFinancial services
Founded2011 (2011)
Founders
  • Philippe Gelis
  • Antonio Rami
Headquarters
London
,
United Kingdom
Key people
Philippe Gelis (CEO)
ProductsForeign currency exchange
ParentBNP Paribas
Websitekantox.com

Kantox has its headquarters in the City of London and offices in the Torre Mapfre in Barcelona, Spain. Their solution has foreign exchange capabilities in 124 currencies and operates in more than 70 countries worldwide.

They are a founding member of France Fintech,[1] the Spanish Association for Financial Technology (Asociación Española de Technología Financiera)[2] and the European Fintech Association,[3] which all lobby for a greater role of FinTech in their respective countries' financial sectors.

History

Kantox was founded in 2011 by Philippe Gelis,[4] Antonio Rami,[5] ex-consultants in Deloitte, and John Carbajal. The name of the company takes inspiration from the surname of Georg Cantor, the creator of the theory of transfinite numbers, a fundamental theory in the transformation of mathematical study in the late nineteenth century.

Operating in the FX market, where daily turnover has been estimated by the Bank for International Settlements at $6.6 trillion,[6] Kantox raised €6.4 million in investment for their Series A funding round in 2014.[7]

Since then, Kantox has increased its total funding to over €30 million after closing two venture rounds from their bank partner BNP Paribas[8] and Eurazeo in July 2021. Their solution reached $1 billion in total corporate foreign exchange transactions in 2015.[9] By 2022, Kantox reached $18 billion in total corporate foreign exchange transactions.[10]

In October 2022, BNP Paribas signed an agreement for the acquisition. of Kantox for about €120 million.[11][12] The acquisition was completed in July 2023.[13]

Recognition

In 2015, Kantox was awarded European FinTech of the Year at the European ICT Spring Awards.[14] Kantox has also been named on the Deloitte Technology Fast 50 UK in 2017[15] and 2018,[16] and the Deloitte Technology Fast 500 EMEA in 2016,[17] 2017[18] and 2018.[19]

Kantox’s Dynamic Hedging solution has been the winner of Treasury Management International’s award for Best Risk Management Solution in 2018,[20] 2020[21]and 2022 for Best Solution Innovation in 2019 in collaboration with BNP Paribas.[22] It was also voted as the Best e-FX platform for corporates at the 2019 FX Week e-FX Awards.[23]

The company has also received media coverage from international finance publications including EuroMoney,[7] Financial Times,[24] The Wall Street Journal[8] and Forbes.[25]

Investors

Kantox has received financing through various rounds of investment. Investors include venture capital firms Partech Ventures, Eurazeo and Cabiedes Partners, in addition to private financiers and web entrepreneurs. Most recently, in July 2021, Kantox raised €2 million from bank partner BNP Paribas[3] and Investor Eurazeo.

See also

References
  1. "Membres — FRANCE FINTECH". Archived from the original on 2015-11-30. Retrieved 2015-12-16.
  2. "Kantox impulsa la creación de la Asociación Española de Tecnología Financiera - Expansion.com". www.expansion.com. Retrieved 2018-02-06.
  3. "EU fintechs united: European FinTech Association (EFA) goes live". Mintos Blog. 2020-06-18. Retrieved 2021-06-11.
  4. "'Emprender es un reto con una satisfacción inmensa cuando funciona'". Equipos Y Talento. Retrieved 11 March 2014.
  5. Cornish, David (18 January 2013). "Europe's hottest startup capitals: Barcelona". Wired UK. Archived from the original on 8 September 2022.
  6. "Foreign exchange turnover in April 2019". BIS. ABC Empresa. 16 September 2019.
  7. "Kantox, The London-Based P2P Currency Exchange For Businesses, Raises €6.5M Series A". TechCrunch. 10 February 2014. Retrieved 2021-06-11.
  8. "Kantox cierra una ampliación de capital de 8 millones de euros con el apoyo de BNP Paribas". El Referente (in Spanish). 2020-02-15. Retrieved 2021-06-11.
  9. "Barcelona Fintech Startup Kantox Hits $1 Billion in FX Trades". Barcinno. 2015-02-10. Retrieved 2021-06-15.
  10. "About Kantox". Kantox. Retrieved 2021-06-15.
  11. Berthelot, Benoit (11 October 2022). "BNP Acquires Fintech Kantox to Offer Currency-Management Tool". Bloomberg Law.
  12. Martinez, Jesus (11 October 2022). "BNP Paribas paga 120 millones por la compra de la fintech española Kantox" [BNP Paribas pays 120 million for the purchase of the Spanish fintech Kantox]. La Información (in Spanish).
  13. "BNP Paribas finalise l'acquisition de Kantox" [BNP Paribas completes the acquisition of Kantox]. Capital (in French). 13 July 2023.
  14. "ICT Spring Awards".
  15. "2017 Deloitte Fast 50 UK" (PDF). Deloitte.
  16. "2018 winners". UK Technology Fast 50. Retrieved 2021-06-14.
  17. "Deloitte Fast 500 EMEA 2016" (PDF).
  18. "Deloitte EMEA Fast 500 2017" (PDF).
  19. "Deloitte EMEA Fast 500 2018" (PDF).
  20. "Easing the FX Burden: Why Treasurers are Turning to Fintech". Treasury Management International. Retrieved 2021-06-14.
  21. "Awards". Treasury Management International. Retrieved 2021-06-14.
  22. "BNP Paribas and Kantox win best Solution Innovation for FX Risk - BNP Paribas CIB". Corporate & Institutional Banking. 2019-12-12. Retrieved 2021-06-14.
  23. "Best e-FX platform for corporates: Kantox". FX Markets. 2019-07-12. Retrieved 2021-06-14.
  24. "Many SMEs fail to grasp foreign exchange risk". Financial Times. 26 September 2013. Retrieved 2021-06-14.
  25. Coleman, Alison. "Forex Scandals, Fines, and How A French Entrepreneur Is Bringing Fairness And Transparency To SMEs". Forbes. Retrieved 2021-06-14.
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