BNP Paribas acquires UK fintech Kantox for €120 million

After a three year relationship BNP Paribas pops the question and acquires London’s currency management automation firm Kantox.
BNP Paribas acquires UK fintech Kantox for €120 million

London headquartered currency management automation software firm Kantox has announced its acquisition by BNP Paribas after a three year partnership. 

Kantox, which helps companies manage their FX workflow and leverage currencies for growth in a host if different industries, including e-commerce, manufacturing and the oil and gas sectors. Its international offering benefits from registration in the UK and in Barcelona. 

The partnership between Kantox and BNP Paribas began in September 2019 and this deal demonstrates BNP Paribas’ Growth Technology Sustainability 2025 plan.

"Supporting our clients in their international development and providing them with the most advanced technological solutions have always been our priority and are as such key pillars of our GTS 2025 strategic plan,” Yann Gérardin, Chief Operating Officer, Head of BNP Paribas CIB. 

"We have been serving clients together since 2019 when our technology partnership started. During those 3 years, we spent a lot of time together in the field, getting the opportunity to understand that together we were stronger and able to bring more value to clients. It is the best of both worlds, the leading software company in the currency management automation category and the leading bank in Europe,” said Philippe Gelis, CEO and co-founder at Kantox. 

An agreement of acquisition has been signed for €120 million. 

“We are delighted to strengthen our partnership with Kantox, which brings to our clients a unique and innovative platform to automate their currency risk management. Corporate treasurers are currently navigating turbulent markets and advanced technology can help mitigate some of the challenges, easing the burden of manual tasks and allowing them to focus on their core business,” Olivier Osty, Head of Global Markets, BNP Paribas CIB. 

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