FX risk manager Bound lands $25m funding boost

An automated overseas speech hazard absorption level which protects clients against volatile currency markets volition this week denote a backing injection of astir $25m.

Sky News understands that Bound, which was founded successful 2021 by Seth Philips and Dan Kindler, has landed the caller backing successful a Series A circular led by AlbionVC, a salient task superior investor.

The circular volition besides see information from Notion Capital and GoHub, arsenic good arsenic existing investors successful the company.

Bound says it offers fast, transparent and automated FX hedging exertion solutions which it claims "empower concern teams to execute similar currency trading experts".

The perils of turbulent currency markets were underlined past twelvemonth erstwhile London-listed FX radical Argentex collapsed amid the turmoil triggered by President Trump's planetary tariffs war.

Bound, which traded adjacent to $2bn past year, said it would usage its caller backing to prosecute regulatory authorisation successful the EU arsenic the prelude to enlargement connected the Continent.

"The satellite is successful a genuinely volatile state, and we don't judge we're heading backmost into a play of stableness anytime soon," Mr Philips, Bound's main executive, said.

"Exchange complaint volatility has ne'er been higher, and astir businesses consciousness that whether they realise it oregon not.

"One of the astir contiguous ways that instability shows up is done currency markets.

"You tin beryllium moving a steadfast UK concern with U.S. customers, and overnight, a societal media station tin origin currencies to fluctuate and importantly interaction your business's margins."

Bound cited manner retailers with ample planetary purchasing requirements, task capitalists investing crossed regions oregon accumulation companies with planetary determination needs arsenic examples of the types of businesses susceptible to currency risk.

"Currency volatility has go a structural situation for modern businesses, not a short-term anomaly," said Jay Wilson, a spouse astatine AlbionVC.

"What impressed america astir Bound is its wide knowing that FX hazard absorption shouldn't beryllium reserved for multinational corporates with specializer treasury teams.

"FX hazard absorption is an manufacture reliant connected galore bequest systems and is truthful ripe for disruption."

Bound, which is based successful London, did not disclose the valuation secured successful its caller backing round.