Bound, a London-based fintech group specialising in foreign exchange risk management, has secured a $24.5m (£18m) Series A funding round.
Founded in 2021, Bound has developed a platform to protect businesses from currency risk through automated FX hedging.
Using Bound, finance teams can set up best-practice hedging strategies that automatically manage exposure to market volatility with no manual intervention required.
The Series A round comes at a time of heightened international tensions, with trading between nations previously considered reliable partners now complicated by volatile policy.
The UK fintech will use its new funding to pursue expansion in Europe, first by seeking regulatory authorisation in the European Union.
“The world is in a genuinely volatile state, and we don’t believe we’re heading back into a period of stability anytime soon. Exchange rate volatility has never been higher, and most businesses feel that whether they realise it or not,” said Bound co-founder and chief executive Seth Phillips.
“One of the most immediate ways that instability shows up is through currency markets. You can be running a healthy UK business with US customers, and overnight, a social media post can cause currencies to fluctuate and significantly impact your business’s margins.
“Businesses should be able to protect themselves from currency risk without becoming FX experts, and we’ll be using this round to expand our mission across Europe.”
The investment round was led by AlbionVC and included participation from Notion Capital and GoHub Ventures.
“Currency volatility has become a structural challenge for modern businesses, not a short-term anomaly,” said Jay Wilson, a partner at AlbionVC.
“FX risk management is an industry reliant on many legacy systems and is therefore ripe for disruption. Bound is building essential financial infrastructure that allows growing businesses to protect margins, plan with confidence, and operate internationally in an increasingly unstable world.”
