FX HedgePool Raises $8M Series A

by James · September 2, 2022

FX HedgePool, a peer-to-peer matching platform for institutional FX transactions, has raised $8 million in Series A funding.

The round was led by Information Venture Partners with participation from NAventures and Fidelity International Strategic Ventures.

Established in 2020, FX HedgePool has facilitated over $4 billion in matched currency trades for dozens of firms since its inception.

FX HedgePool said it is guided by a ’10X innovation philosophy’ which has enabled the company to respond to market demand by delivering thirty product releases annually, compared to an average of three achieved by most incumbents.

This agility, the firm claims, has enabled it to design and develop its first platform prototype in just four weeks back in 2019. In the following 16 weeks, it delivered the smallest viable product that enabled the first live peer-to-peer FX Ever Exchange January 2020 – The platform has been developing rapidly with new releases every 1-2 weeks.

FX HedgePool recently revealed its plans to launch an FX spot-matching service by the end of the year to meet growing demand from the growing community of buy-side participants. This will help further reduce market impact, tracking error, cost transparency and operational inefficiencies for buy-side participants in the foreign exchange market, the company claimed.

The newly raised capital will help FX HedgePool accelerate its multi-product strategy aimed at delivering additional efficiencies for its growing network of investment managers and banks. The company is also launching the FXHP Innovation Pool, a community where finance leaders collaborate to address industry challenges by pushing the boundaries of technology to revolutionize the world’s largest financial market.

FX HedgePool recently announced its intentions to launch an FX spot-matching service by the end of the year to meet growing demand from the expanding community of buy-side participants. This natural expansion of the company’s product offering will help to further reduce market impact, tracking error, cost transparency and operational inefficiency for buy-side participants in the foreign exchange market.

FX HedgePool CEO and co-founder Jay Moore said: “Our new partnership will further strengthen FX HedgePool’s ability to deliver on a shared vision to change the market for good. We have led the market towards peer-to-peer matching and this investment will allow us to continue to innovate to deliver efficiencies, cost savings and better results for the investment community.”