Dublin, Ireland--(Newsfile Corp. - March 18, 2025) - ALT21 has announced that it 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.
Pritesh Ruparel, CEO of ALT21, commented:
"We're excited to have secured funding from a diverse group of investors who share our vision. In an increasingly volatile world, the pricing strategy of banks, brokers and fintechs remains opaque and expensive, there is an urgent need for a transparent, efficient alternative. We have been overwhelmed and delighted that so many experienced investors recognise the potential of the company and want to be involved.
"Our newest solutions for business with recurring FX transactions are faster, more cost-effective and involve less steps than traditional providers - think of it like the Stripe for Hedging. We have developed our platform based on methods used by prolific high-frequency trading firms which dominate the most sophisticated end of the FX market."
Richard Hayes, Chairman of ALT21 and former Chairman of Global Shares, added:
"I have never been more excited about ALT21's potential. Businesses are facing higher levels of geopolitical and financial volatility than ever, increasing their operational costs. The last few months have set the tone for higher levels of volatility at a global level and as traditional providers struggle to innovate, many businesses remain under or poorly served. ALT21 is uniquely positioned to cut through this complexity and deliver unparalleled cost and time savings to enterprises worldwide. I am honoured to chair such a dynamic and accomplished Board. The addition of these exceptional leaders brings fresh perspectives and expertise that will complement our existing team. Together, we remain committed to advancing our mission and delivering value to our customers, partners and stakeholders."
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 new funding, ALT21 plans to:
- Expand sales and marketing teams.
- Introduce new products in addition to FX.
- Expand globally: reach more countries and customers.
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ALT21's rapid growth is backed by strong customer referrals, with clients praising its professional and high-quality service.
ENDS
For further information contact:
James Dunny, Reput8ion Dynamics +353 86 388 3903 / james@reput8ion.ie
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/245083
SOURCE: Alt21
