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- OpenFX
OpenFX Valuation, Funding & Investors
OpenFX is valued at $500M as of March 2026.
Last OpenFX valuation
$500M
Series A · Mar 2026
Last OpenFX funding round
$94M
Series A · Mar 2026
Cumulative funding OpenFX raised
$117M
across 2 funding rounds
Key investors in OpenFX
Accel
Flybridge
Faction
Hash3
NFX
Northzone
About OpenFX
OpenFX is a cross-border payments platform enabling 24/7 FX transfers with real-time settlement and tight spreads. San Francisco-headquartered, it supports 150 currencies via APIs for fintechs and enterprises. Backed by alumni from PayPal and Kraken, OpenFX processes $1 billion monthly for e-commerce merchants and remittance services.
Founded
2024
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Usage-based
Valuation
$500M (Mar 2026)
OpenFX Valuation
OpenFX is currently valued at $500M, based on its Series A in March 2026.
The $94M round was led by Accel, with participation from Hash3, Pantera Capital, Flybridge, M13, Faction and 2 other investors.
OpenFX valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Mar 2026 | Series A | $500M |
OpenFX Funding History
OpenFX has raised a total of $117M across 2 funding rounds.
OpenFX's first fundraising round was a $23M undisclosed-stage round in May 2025. The most recent completed round was a $94M Series A in March 2026.
OpenFX funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Mar 2026 | Series A | Accel (lead); Hash3; Pantera Capital; Flybridge; M13; Faction; Northzone; Atomico | $94M | $500M | - |
| May 2025 | Undisclosed stage | Accel (lead); Hash3; Castle Island Ventures; Flybridge; NFX; Faction | $23M | - | OpenFX is a fintech infrastructure startup founded in early 2024 by Prabhakar Reddy, former co-founder of FalconX, providing institutional-grade tools for real-time cross-border payments. The platform enables payment service providers, remittance companies, and neobrokers to execute FX transfers 99% faster and up to 90% cheaper than traditional methods, with 90% of transactions settling in under an hour via a single API and proprietary routing across 26 countries and seven major FX pairs. Operating 24/7/365, it bridges domestic payment networks and has expanded from North America, Europe, and MENA regions. In May 2025, OpenFX emerged from stealth with a $23 million seed funding round led by Accel, joined by NFX, Lightspeed Faction, Castle Island Ventures, Flybridge, Hash3, Nascent, Breyer Capital, and other strategic investors matching the query investors. The funding supports expansion into Latin American and Asian markets to cover most G20 FX currencies across 40 countries, launch of treasury management products, and scaling regulatory presence. The team of 42 includes veterans from PayPal, Slack, Affirm, Kraken, JP Morgan, Goldman Sachs, and Citi, across offices in the US, UK, UAE, and India. OpenFX achieved $10 billion in annualized transaction volume within less than 12 months since its stealth launch in early 2024, later reaching $20 billion. Accel partner Shekhar Kirani highlighted the team's execution in building secure infrastructure akin to the 'AWS of global finance' for cross-border commerce. |
Who has invested in OpenFX?
10 investors have backed OpenFX across its funding rounds, including Accel, Flybridge, Faction, Hash3, NFX and Northzone.
Lead investors include Accel.
OpenFX Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Participant | May 2025 | ||
| 2 | Participant | May 2025 | ||
| 2 | Participant | May 2025 | ||
| 2 | Lead | May 2025 | ||
| 1 | Participant | Mar 2026 | ||
| 1 | Participant | May 2025 | ||
| 1 | Participant | Mar 2026 | ||
| 1 | Participant | May 2025 | ||
This data is available for Pro users. Sign up to see all 10 OpenFX investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by OpenFX
OpenFX has acquired 2 companies to date.
Last acquisition by OpenFX was on August 6th 2026. OpenFX acquired Global Ledger for undisclosed valuation.
Latest Acquisitions by OpenFX
| Description | Global Ledger is a B2B provider of cross-border financial infrastructure. | - |
| HQ Country | - | |
| HQ City | - | - |
| Deal Date | 6 Aug 2026 | 31 May 2026 |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all OpenFX acquisitions and their M&A valuation multiples. Start Free Trial | ||
Investments by OpenFX
OpenFX has invested in 2 companies to date.
Latest investment by OpenFX was on September 8th 2026. OpenFX invested in Latitude in their $35M Series A round.
Latest Investments by OpenFX
| Description | Latitude is a global payments system linking stablecoin-based settlement to local currency payout systems. | Zug-based Levl GmbH is a fintech specializing in cross-border payments infrastructure accessible via web app or API across more than 100 countries, originating as a Galaxy Digital spin-out and advancing DLT trading systems. |
| HQ Country | ||
| HQ City | Houston, TX | - |
| Deal Date | 8 Sep 2026 | 11 Feb 2026 |
| Round | Series A | Seed |
| Raised | $35M | $7M |
| Investors | New Enterprise Associates; Coinbase; Lightspeed Venture Partners; Faction; Wilson Sonsini Goodrich & Rosati | Protagonist; Galaxy Ventures; FalconX; Deus x; Variant; Blockchain Builders Fund; CMCC Global |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all OpenFX investments and their VC round multiples. Start Free Trial | ||
OpenFX Competitors
OpenFX competitors include listed companies like Cash Plus and Intermex, and private ones like Lightnet, XFlow, Corpay (cross border unit) and RevenueCat.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $406M | - | ||
| Private | $19M | - | $85M | 4.5x | ||
| Private | $2B | $650M | $13B | 6.5x | ||
| Private | $30M | - | $500M | 16.7x | ||
| Publicly listed | $188M | $57M | $604M | 5.0x | ||
| Publicly listed | $608M | $76M | $381M | 0.7x |
OpenFX Public Comps
OpenFX is still privately-owned, but its public comps include Cash Plus, Intermex, GMO Financial Gate, Paysafe, Azkoyen, CPI Card, Intelligent Wave, Densan System Holdings Co, Cuscal and SAB Finance.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $188M | $57M | 2.7x | 5.0x | 9.0x | 7.8x | |||
| $608M | $76M | 0.6x | 0.7x | 4.8x | 5.2x | |||
| $115M | $18M | 2.8x | 2.3x | 17.6x | 14.7x | |||
| $1.7B | $341M | 1.6x | 1.5x | 7.8x | 5.9x | |||
| $243M | $40M | 1.1x | 1.0x | 6.5x | 5.8x | |||
| $544M | $77M | 1.0x | 0.9x | 7.0x | 5.3x | |||
| $100M | $21M | 2.2x | 2.0x | 10.2x | - | |||
| $438M | $29M | 0.2x | 0.2x | 3.2x | 3.3x | |||
This data is available for Pro users. Sign up to see all OpenFX competitors and their valuation data. Start Free Trial | ||||||||
Common questions about OpenFX
| When was OpenFX founded? | OpenFX was founded in 2024. |
| Where is OpenFX headquartered? | OpenFX is headquartered in New York City, NY, United States. |
| Is OpenFX publicly listed? | No, OpenFX is a private, VC-backed company. |
| What is OpenFX's valuation? | OpenFX was last valued at $500M in its Series A in March 2026. |
| How much funding has OpenFX raised? | OpenFX has raised $117M across 2 funding rounds. |
| What was OpenFX's last funding round? | OpenFX's last funding round was a $94M Series A in March 2026, led by Accel. |
| Who are OpenFX's investors? | OpenFX's investors include Hash3, Flybridge, Faction, Accel, Pantera Capital, Castle Island Ventures, M13, NFX, Northzone and Atomico. |
| Which companies are comparable to OpenFX? | Companies comparable to OpenFX include Lightnet, XFlow, Corpay (cross border unit), RevenueCat, Cash Plus and Intermex. |
| How many companies has OpenFX acquired? | OpenFX has acquired 2 companies, including Global Ledger and Embed. |
| How many companies has OpenFX invested in? | OpenFX has invested in 2 companies, including Latitude and Levl. |
| What was OpenFX's last investment? | In September 2026, OpenFX invested in Latitude's $35M Series A alongside New Enterprise Associates, Coinbase, Lightspeed Venture Partners and 2 other investors. |
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