Alt21 raises $12.5m to scale faster, cut FX costs further and expand beyond hedging
London/Dublin, 18 March 2025: Alt21 has secured $12.5 million in an oversubscribed Series A, taking total funding to $44 million. The round was backed by a network of experienced super angel investors with a track record of scaling global businesses. It’s one of the largest European raises of its kind and a deliberate alternative to traditional venture routes.
The reason investors committed capital is straightforward.
FX transactions are still often slow, complicated and expensive for businesses, particularly in volatile markets. Alt21 is proving that this doesn’t have to be the case.
The capital will be used to accelerate global expansion, scale go-to-market activity and launch products beyond FX. At the core is Alt21’s technology advantage: automation built on techniques used in high-frequency trading. By removing manual steps and maximising efficiency, Alt21 materially lowers operating costs, enabling it to pass those savings directly to customers.
“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 leading HFT trading firms which dominate the most sophisticated end of the FX market.”
CEO of Alt21
For customers, this means fewer steps, tighter pricing and far less friction when managing recurring FX exposure. For the market, it signals a shift away from legacy FX models that struggle to keep up with modern business needs.
“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.”
Chairman of Alt21 and former Chairman of Global Shares
The funding coincides with the following two senior board appointments that deepen Alt21’s strategic and operational experience, including leaders who have built, scaled and exited global businesses.
- 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.
Alt21 is operating in a market with significant headroom. Global cross-border transactions exceed $150 trillion, yet much of the infrastructure remains outdated. With dual regulatory approval, Alt21 prioritises compliance while pushing hard on transparency, efficiency and customer-first innovation.
The next phase is clear. Alt21 will scale its sales and marketing teams, expand internationally and introduce new products beyond FX. Growth to date has been driven largely by referrals, which is a reflection of a service that delivers on quality, cost and execution.
This funding round gives Alt21 the firepower to move faster.
But the ambition remains the same: remove friction from FX and give businesses a smarter way to manage currency risk at scale.
About Alt21
Alt21’s mission is simple: make hedging solutions accessible, affordable and effortless.
Its end-to-end FX hedging and payment platform, which is offered as SaaS or managed service, enables financial and non-financial institutions to offer low-cost, transparent, self-service hedging that SMEs can adopt without training or hand-holding.
The platform embeds hedging exactly where SMEs need it, wrapped in a clean, guided user experience that works round the clock.
Banks have left this market underserved for too long. Now they can fix it at scale, at speed and without rebuilding their tech stack.
Alt21 Software Limited is incorporated in Ireland (No. 578153) with its registered office at Century House, Harold’s Cross Road, Dublin 6W, Dublin, Ireland. It’s subsidiary ALT 21 Limited is authorised and regulated by the Financial Conduct Authority (FRN: 783837) is a company registered in England and Wales (number 10723112). The registered address is 45 Eagle Street, London WC1R 4FS, United Kingdom.
To learn more, visit www.alt21.com.
