HedgeFlows, a fintech platform for small and medium sized enterprises (SMEs) launches today following a £2m funding round.
The HedgeFlows platform enables SMEs to seamlessly manage foreign payments, cashflows and invoices, giving ambitious companies access to services which are often denied by the big banks. The company is fully licensed by the Financial Conduct Authority (FCA).
The company was founded by former bankers Alex Axentiev and Neh Thaker. Axentiev has previously overseen emerging markets and currency trading services for international banks and helped numerous multinational corporations manage their international finances. Thaker has held senior executive roles at Bank of America Merrill Lynch and Standard Chartered, including Global Head of Financial Markets with multi-billion dollar revenues and over 1000 employees across 50+ countries.
In a similar way to companies such as Xero and Quickbooks which have revolutionised the accounting market, HedgeFlows aims to empower businesses to better plan and manage their financial needs in any currency.
The Hedgeflows platform helps businesses grow and improve their international trade capabilities to sell across borders. It also automates management of the risks involved in foreign trade such as volatile exchange rates, fraud or hidden costs. The majority of SMEs don’t currently have access to the right tools or support to trade internationally in a safe and easy manner in the same way that larger, more established companies do.
Research shows that over 1.5 million SMEs in Europe could benefit from these solutions, saving time, money and unlocking working capital. Managing financial risks and costs better could save European SMEs €60bn according to estimates and represents a Total Addressable Market of €1.5bn per year.
Alex Axentiev, co-founder, HedgeFlows, said:
“SMEs are the lifeblood of the economy, yet so many of these innovative and ambitious businesses struggle to expand into international markets due to a lack of resources. Our platform will change all that, giving fast-growing companies a one-stop solution for accelerating international trade and payments, allowing them to reach their full potential.”
Neh Thaker, co-founder, HedgeFlows, said:
“In challenging economic times, businesses need to be empowered to drive growth. For too long operational and financial barriers have been in place that have stifled entrepreneurs from taking their businesses to the next level. HedgeFlows will change all this, giving a level playing field for scale-ups, so they can enjoy the capabilities previously enjoyed only by a select few enterprise size businesses.”
About HedgeFlows
HedgeFlows, is an international payments and finance platform for small and medium sizes enterprises (SMEs). The company is backed by £2m seed funding.
The Hedgeflows platform is designed to enable SMEs to seamlessly manage
foreign payments, cashflows and invoices, giving ambitious companies access to services which are often denied by the big banks. The company is fully licensed by the Financial Conduct Authority (FCA).
The post HedgeFlows launches with £2m funding to empower SMEs for international trade first appeared on BusinessMole.
