OpenFX raises $23 million in its first funding round.

2025-06-19

OpenFX, an FX infrastructure company, recently secured USD 23 million in funding. This capital will be used to optimize cross-border payments through enhanced real-time settlement and transparency.

OpenFX’s round was led by Accel, with additional participation from NFX, Lightspeed Faction, Castle Island Ventures, and Flybridge, among other strategic fintech investors. This funding marks a significant milestone for the company, coming just over a year after its stealth launch in early 2024.

OpenFX’s Development Strategy

OpenFX is dedicated to building an open and transparent FX network that enables near-instant settlement of cross-border transactions. The firm’s platform aims to simplify the payment process by making foreign exchange transfers more efficient, cost-effective, and accessible 24/7.

Moreover, its multi-layer liquidity architecture connects traditional banking rails with modern digital systems through advanced financial technology. This approach ensures a capital-efficient model that reduces dependency on extensive balance sheets required by conventional FX providers.

With the new funding, OpenFX plans to expand into Latin American and Asian markets, roll out treasury management solutions, and build regulatory frameworks across key jurisdictions.

Since its launch, the company has been processing transactions across G20 FX pairs with institutional-grade security. It serves a diverse customer base including remittance providers, neobanks, brokerages, payment processors, and global payroll organizations.

Accel’s representatives highlighted that their support will enable OpenFX to create a secure platform trusted by enterprises. The firm aims to leverage its solutions for developers and businesses to streamline cross-border commerce securely.