ApideckTape
← Embedded Finance Index 2026

Kantox

“Can a bank-owned FX automation platform become the default treasury OS for mid-market corporates managing multi-currency risk?”

Founded2011
HQLondon, United Kingdom (with offices in Barcelona, Spain)
FoundersPhilippe Gelis, Antonio Rami
Total raisedacquired by BNP Paribas (July 2023)
Latest roundAcquisition by BNP Paribas, 2023
IndustryInfrastructure / FX
The story

Founded in 2011 as a peer-to-peer FX marketplace for SMEs, Kantox pivoted from a transactional marketplace to a Currency Management Automation SaaS platform for corporate treasurers, culminating in the flagship Dynamic Hedging product. In July 2023 it was acquired by BNP Paribas, giving the bank a treasury-tech offering while Kantox continues to operate independently and remains an FCA-authorised UK Payment Institution and a Bank of Spain-authorised EU PI.

Last 12 months
2023-07
Product timeline
2011
Founded by Philippe Gelis and Antonio Rami as a peer-to-peer FX marketplace for SMEs and mid-caps· pivot
2014
Raised €6.5M Series A led by Partech Ventures and Idinvest Partners· funding
2018
Launched Kantox Dynamic Hedging, pivoting to Currency Management Automation SaaS for corporate treasurers· pivot
2023
Acquired by BNP Paribas; continues to operate as an independent company· acquisition
Regulated entities
3
regulatory licences held by Kantox
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
5 layers disclosed in Kantox’s embedded-finance stack
Payments / PSP
Kantox Payments & Collections (self-operated)
Money movement
in the full report
Card network
in the full report
FX & payouts
in the full report
Accounting
in the full report
Accounting gap: minor
8 more providers across 4 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.