Introduction
Alt21 has successfully raised USD $12.5 million, bringing its total funding to $44 million, marking a significant milestone in its mission to save clients time and money with Foreign Exchange (FX) transactions, hedging and payments. The investment was secured in an oversubscribed funding round from a network of super angel investors, many of whom bring extensive experience in scaling businesses globally. Notably, this is one of the largest funding rounds raised in Europe via this method of being backed by super angels and underscores Alt21’s alternative approach to raising growth capital.
This strategic investment enables Alt21 to accelerate its global expansion, scale its go-to-market strategy and introduce new products beyond FX – all while leveraging advanced technology to streamline processes and maximise efficiency. By utilising technology used in high-frequency trading, the company automates the key steps in FX, which significantly reduces operating costs and allows the company to pass on the savings to its customers.
Jane Lorem speaking on business analytics
The Series A funding coincides with key additions to Alt21’s board, strengthening its governance and strategic direction:
- Giles Palmer, CEO of Brandwatch – Led Brandwatch from founding through to a $450 million exit in 2021.
- Eoghan Quigley – Former Senior Partner at KPMG Ireland and President of the Dublin Chamber of Commerce.
The global cross-border transactions market is estimated to be worth over $150 trillion, so there is a very significant potential for Alt21 to grow. With dual regulatory approval, Alt21 prioritises compliance while maintaining its commitment to transparency, efficiency and customer-first innovation.
With this funding, Alt21 plans to:
- Expand sales and marketing teams.
- Introduce new products in addition to FX.
- Expand globally: reach more countries and customers.
Alt21’s rapid growth is backed by strong customer referrals, with clients praising its professional and high-quality service.
