London-based ALT21, a hedging technology company, announced on Thursday, October 12, that it has raised $21M (approximately €19.4M ) in a pre-series A round million funding round.
The UK company will use the funds to sustain its growth trajectory and broaden the base of strategic partners to reach a larger demographic of SMEs.
ALT21 plans to expand overseas and license its software to a broader range of fintechs and banks, enabling them to provide lower-cost FX services to their customers within their regulated businesses.
The company plans to invest in artificial intelligence and machine learning to bridge the gap between human interaction and trading apps for SMEs, strengthening products like its hedgucation suite of education modules.