bnp kantox londonbased 120malstontech.eu
In a significant move, BNP Paribas, one of Europe’s leading banks, has acquired London-based fintech firm Kantox for a substantial sum of €120 million. The acquisition comes after a successful three-year relationship between the two entities, which had initially entered into a technology partnership in September 2019.
bnp paribas kantox londonbased 120malstontech.eu
Kantox, specializing in currency management automation software, offers innovative solutions to companies across various industries, including e-commerce, manufacturing, and the oil and gas sectors. Its comprehensive FX workflow management platform enables businesses to leverage currencies strategically for growth and international expansion. Operating from both London and Barcelona, Kantox’s international presence has contributed to its success in the market.
paribas kantox londonbased 120m septemberalstontech.eu
The strategic alliance between Kantox and BNP Paribas has proven highly fruitful, leading to the decision to join forces officially through this acquisition. The move aligns with BNP Paribas’ Growth Technology Sustainability 2025 plan, which aims to support clients in their global endeavors while providing them with cutting-edge technological solutions.
bnp kantox londonbased 120m septemberalstontech.eu
Yann Gérardin, Chief Operating Officer and Head of BNP Paribas CIB, expressed the bank’s commitment to empowering clients in their international development by offering advanced technological solutions. These initiatives form essential pillars of the GTS 2025 strategic plan.
paribas kantox londonbased septemberalstontech.eu
Philippe Gelis, CEO, and co-founder at Kantox shared his enthusiasm for the acquisition, highlighting the shared vision and strengths of both entities in delivering value to clients. The combined forces of the leading software company in the currency management automation category and one of Europe’s prominent banks create a compelling proposition for the market.
bnp paribas kantox londonbased septemberalstontech.eu
The agreement for the acquisition was finalized at an impressive €120 million, underlining the strategic importance of Kantox’s technology and expertise to BNP Paribas’ growth strategy. The acquisition will enable BNP Paribas to offer its clients a unique and innovative platform to automate currency risk management, providing much-needed support during these turbulent market conditions.
bnp kantox londonbased septemberalstontech.eu
Olivier Osty, Head of Global Markets at BNP Paribas CIB, emphasized the value of advanced technology in helping corporate treasurers navigate uncertain markets. By automating currency risk management and streamlining manual tasks, businesses can focus more on their core operations, contributing to improved efficiency and better business outcomes.
paribas kantox londonbased
The acquisition marks a significant milestone in the financial technology landscape, demonstrating the growing importance of technology-driven solutions in the financial industry. As BNP Paribas strengthens its partnership with Kantox, clients can expect to benefit from enhanced offerings and a more robust and technologically advanced suite of currency management solutions.