Valar Ventures led the seed financing alongside participants BNY Mellon, Third Prime and Gaingels to support product development.
"We’re proud to support AbbeyCross in their seed funding round. Their mission to improve execution quality and transparency for Emerging Markets is aligned to our desire to continue improving the FX market for our clients. It reflects our commitment to emerging technology partnerships that accelerate market structure enhancements and enable us to better serve our clients. We look forward to working with the AbbeyCross team and other market participants to unlock this potential."
— Jason Vitale, Global Head of Foreign Exchange, Fixed Income, Equities & Capital Markets
The funding round was backed by investors including RTP, Third Prime, and Sony Music Entertainment.
"However, creators and brands currently lack the digital infrastructure needed in order to maximize this opportunity, which is why KOMI is focused on building around three core pillars we believe are the most important for creators to reach their commercial potential, namely: Content, Commerce and Community."
The pre-seed round was led by Third Prime with participation from Communitas Capital and strategic angels.
"We are grateful to our investors and look forward to developing the AbbeyCross solution and changing the EM currency market for the better. The current situation is intolerable and unsustainable for those who rely upon the exchange of EM currencies, the banks and payment providers and the regulators themselves. Price transparency and deeper liquidity is desperately needed and that is what AbbeyCross intends to deliver."
