FreemarketFX raises £670k from VentureFounders to accelerate growth
The peer-to-peer currency exchange platform surpassed its initial target with backing from VentureFounders.
Share allotment filed at Companies House
FreemarketFX is an online peer-to-peer currency exchange platform that matches individuals and companies directly to bypass traditional banking intermediaries.
FreemarketFX has raised £670k in a funding round facilitated by online investment platform VentureFounders. The company initially targeted £500k for the angel investment round, ultimately surpassing its goal and bringing its total funds raised over the past eight months to more than £1.3m.
The peer-to-peer exchange platform operates by matching users directly to eliminate traditional banking intermediaries, charging a fixed 0.2 per cent commission. The capital will be deployed to accelerate the company growth strategy and expand the team.
Chief executive Alex Hunn noted that the backing from VentureFounders will help drive the firm expansion plans forward.
From the founder
"This funding round, supported by VentureFounders, allows us to accelerate our already ambitious growth strategy and develop our team even further. We are delighted that VentureFounders are part of this investment round and look forward to working closely with them as we build our business."
Alex Hunn
Chief Executive at FreemarketFX
Investor perspective
"VentureFounders is dedicated to supporting great, innovative British businesses. freemarketFX perfectly fits our strict investment criteria – its unique FX proposition is well placed in the market and the business has the backing of a strong management team led by Alex Hunn. Investors clearly agreed, as proven by freemarketFX significantly exceeding its target in this round."
James Codling
Co-Founder & Managing Director, VentureFounders
Use of funds
- 01Grow the team
- 02Continue product development