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

OpenFX Overview

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

United StatesNew York City, NY

Website

openfx.com

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

OpenFX valuation by funding round
DateStageValuation
Mar 2026Series 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

OpenFX funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Mar 2026Series AAccel (lead); Hash3; Pantera Capital; Flybridge; M13; Faction; Northzone; Atomico$94M$500M-
May 2025Undisclosed stageAccel (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

Investors in OpenFX by funding rounds participated
InvestorHQRoundsRoleFirst check
Hash3United StatesMiami, FL2ParticipantMay 2025
FlybridgeUnited StatesNew York City, NY2ParticipantMay 2025
FactionUnited StatesSan Francisco, CA2ParticipantMay 2025
AccelUnited StatesPalo Alto, CA2LeadMay 2025
Pantera CapitalUnited StatesSan Francisco, CA1ParticipantMar 2026
Castle Island VenturesUnited StatesUnited States1ParticipantMay 2025
M13United StatesLos Angeles, CA1ParticipantMar 2026
NFXUnited StatesSan Francisco, CA1ParticipantMay 2025

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Acquisitions 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

Global Ledger
Embed
Description
Global Ledger is a B2B provider of cross-border financial infrastructure.
-
HQ Country-Netherlands
HQ City
-
-
Deal Date6 Aug 202631 May 2026
Valuationundisclosedundisclosed
EV/Revenue
EV/EBITDA

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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

Latitude
Levl
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 CountryUnited StatesSwitzerland
HQ City
Houston, TX
-
Deal Date8 Sep 202611 Feb 2026
RoundSeries ASeed
Raised$35M$7M
InvestorsNew Enterprise Associates; Coinbase; Lightspeed Venture Partners; Faction; Wilson Sonsini Goodrich & RosatiProtagonist; Galaxy Ventures; FalconX; Deus x; Variant; Blockchain Builders Fund; CMCC Global
Valuationundisclosedundisclosed
EV/Revenue
EV/EBITDA

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OpenFX Competitors

OpenFX competitors include listed companies like Cash Plus and Intermex, and private ones like Lightnet, XFlow, Corpay (cross border unit) and RevenueCat.

Public and private companies comparable to OpenFX
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
LightnetThailandBangkokPrivate--$406M-
XFlowIndiaBangalorePrivate$19M-$85M4.5x
Corpay (cross border unit)United StatesNorcross, GAPrivate$2B$650M$13B6.5x
RevenueCatUnited StatesSan Francisco, CAPrivate$30M-$500M16.7x
Cash PlusMoroccoMoroccoPublicly listed$188M$57M$604M5.0x
IntermexUnited StatesUnited StatesPublicly listed$608M$76M$381M0.7x

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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Cash Plus$188M$57M2.7x5.0x9.0x7.8x
Intermex$608M$76M0.6x0.7x4.8x5.2x
GMO Financial Gate$115M$18M2.8x2.3x17.6x14.7x
Paysafe$1.7B$341M1.6x1.5x7.8x5.9x
Azkoyen$243M$40M1.1x1.0x6.5x5.8x
CPI Card$544M$77M1.0x0.9x7.0x5.3x
Intelligent Wave$100M$21M2.2x2.0x10.2x-
Densan System Holdings Co$438M$29M0.2x0.2x3.2x3.3x

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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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