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Caxton

“Can a 25-year-old FCA-regulated FX and travel money business become the embedded payments infrastructure layer for UK and European SaaS platforms?”

Founded2001
HQ2 Leman Street, London, E1 8FA, UK
IndustryFintech / Cross-border payments
The story

Founded in 2001 as CaxtonFX, a consumer-focused foreign exchange and travel money business regulated by the FCA. Over two decades evolved from retail FX/travel cards into a multi-product SMB payments platform offering international transfers, multi-currency accounts, virtual cards, and expense management. The most significant strategic shift came with the launch of the CXTN API platform and 'Plug and Pay' proposition, repositioning Caxton as an embedded finance infrastructure provider — effectively offering its payment rails, FX engine, card issuance, and ledger as a white-label service for SaaS companies and enterprise clients.

Last 12 months
2023-01
2024-01
Product timeline
2001
Founded as CaxtonFX, a foreign exchange and travel money provider serving UK consumers.· pivot
2015
Launched prepaid Mastercard travel card product for consumers under the Caxton brand.· card
2020
Expanded into business payments, international transfers, and multi-currency accounts for SMBs.· banking
2022
Launched CXTN platform and open API suite (Payments, Accounts, FX, Ledger, Wallet, Card Management APIs) to enable embedded finance for third-party platforms.· banking
2023
Announced strategic integration with Xero for accounting and payroll payments synchronisation.· banking
2024
Expanded API platform with sandbox environment and 'Plug and Pay' embedded payments proposition targeting SaaS companies.· banking
Regulated entities
2
regulatory licences held by Caxton
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
4 layers disclosed in Caxton’s embedded-finance stack
Payments / PSP
OpenPaydRBS
Banking / BaaS
in the full report
FX & payouts
in the full report
Accounting
in the full report
Accounting gap: minor
7 more providers across 3 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.