VC-backed Kantox hires FT Partners for capital raise

Kantox, a venture capital-backed currency exchange platform, is looking to raise more money.

Philippe Gelis, Kantox’s CEO, confirmed on June 20 that the London fintech was pursuing a capital raise and had hired FT Partners. It’s unclear how much Kantox is seeking.

Kantox has raised $35.1 millon in VC funding through seven rounds, Crunchbase said. Investors include Cabiedes & Partners, Francois Derbaix, Idinvest Partners and Partech.

“We indeed hired FT Partners for a capital raise,” Gelis told Buyouts in an emailed response to questions.

Launched in 2011, Kantox provides software to help businesses overcome complex FX challenges and help them leverage foreign currencies. Kantox on June 19 said that clients had exchanged more than $10 billion on its FX platform in the past eight years. Kantox reportedly has more than 3,500 clients in 25 industries.

In April, the company closed a senior venture debt financing deal with Silicon Valley Bank, BankingTech.com reported. Kantox completed its first debt round in December 2017, also with SVB, acording to PitchBook.

FT Partners, a fintech-focused investment bank, recently advised iyzico, of Istanbul, Turkey, in its $165 million sale to PayU, the fintech and electronics payment arm of Naspers.

FT Partners could not be reached for comment.

Action Item: Kantox CEO Philippe Gelis can be reached at philippe.gelis@kantox.com.