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Bound

Foreign exchange management platform

Bound logo
21-100 employees
  • Fintech
  • B2B
  • Foreign exchange
  • SaaS
Soho, London, UK

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Company mission

Bound's mission is to eliminate FX risk, helping businesses to forget about the costs of foreign currencies with its FX management platform.

Our take

Managing the finances of a scaling company can be challenging, particularly when accounting for the trading of foreign currencies. Foreign exchange rates are often high and come with hidden fees, and their volatility can lead to serious financial risk if a rate is not locked in on time.

Bound provides a foreign exchange management platform, focussed on providing businesses with fair and transparent prices across 36 different fiat currencies. The platform also allows users to automatically split up trades at a locked-in exchange rate, helping them to reduce risk through the process of averaging.

The company is backed by leading venture capital firms, including Valar Ventures, Moonfire and Album VC. They are also targeting a massively underserved market with only 4% of UK SMEs protecting themselves from currency risk as it is generally considered confusing and complicated.

Freddie headshot

Freddie

Company Specialist at Welcome to the Jungle

Funding (1 round)

Nov 2021

$6.5m

SEED

Total funding: $6.5m

Leadership

Seth Phillips

(CEO)

Experience as Founder and CEO of Enerlyte from 2010 to 2013. Was also Director of Product Management and Executive Director of Post-Trade.

Dan Kindler

(CTO)

Software Engineer and Product Manager for Paxos from 2017 to 2020.