London's financial technology sector has received a significant boost with the announcement that automated foreign exchange risk management platform Bound has secured a substantial Series A funding round worth nearly $25 million.
Major Investment for Currency Protection Technology
Sky News has learned that the London-based company, founded in 2021 by Seth Philips and Dan Kindler, has successfully concluded the funding round led by prominent early-stage investor AlbionVC. The investment consortium also includes participation from Notion Capital and GoHub, alongside existing shareholders in the fintech firm.
The substantial capital injection comes at a time when currency market volatility has reached unprecedented levels, creating both challenges and opportunities for businesses operating across international borders.
Addressing Modern Business Challenges
Bound's platform offers what it describes as fast, transparent and automated foreign exchange hedging technology solutions designed to empower finance teams with capabilities traditionally reserved for currency trading experts. The company processed close to $2 billion in transactions last year, demonstrating significant traction in the market.
"The world is in a genuinely volatile state, and we don't believe we're heading back into a period of stability anytime soon," explained Seth Philips, Bound's chief executive. "Exchange rate volatility has never been higher, and most businesses feel that whether they realise it or not."
Philips highlighted how currency instability can dramatically impact businesses: "You can be running a healthy UK business with U.S. customers, and overnight, a social media post can cause currencies to fluctuate and significantly impact your business's margins."
Targeting Diverse Business Sectors
The company has identified multiple business categories particularly vulnerable to currency fluctuations, including fashion retailers with substantial global purchasing requirements, venture capital firms investing across different regions, and production companies with international location needs.
Jay Wilson, a partner at lead investor AlbionVC, commented on the investment rationale: "Currency volatility has become a structural challenge for modern businesses, not a short-term anomaly. What impressed us about Bound is its clear understanding that FX risk management shouldn't be reserved for multinational corporates with specialist treasury teams."
Wilson added: "FX risk management is an industry reliant on many legacy systems and is therefore ripe for disruption."
Expansion Plans and Regulatory Strategy
The new funding will primarily support Bound's pursuit of regulatory authorisation within the European Union, positioning the company for continental expansion. This strategic move comes as businesses increasingly seek sophisticated solutions to navigate turbulent currency markets.
The importance of robust foreign exchange risk management was starkly illustrated last year when London-listed FX group Argentex collapsed amid market turmoil triggered by former President Trump's global tariffs war.
Bound has chosen not to disclose the valuation achieved during this latest funding round, maintaining confidentiality around the financial specifics while highlighting the strategic importance of the investment for their growth trajectory.
The company's success in securing this substantial funding round underscores London's continuing strength as a global fintech hub, particularly in developing innovative solutions for complex financial challenges facing modern businesses operating in increasingly volatile global markets.
