OpenFX closes $94M
Cross‑border payments startup OpenFX raised $94 million from Accel and Lightspeed in a recent funding round, signaling continued investor interest in payments infrastructure startups. The raise was flagged publicly on social channels as a notable mid‑market financing event. (x.com)
OpenFX has closed a $94 million Series A to expand software and liquidity tools for moving money across borders faster. (openfx.com) The company announced the round on March 31, 2026, naming Accel, Atomico, Lightspeed Faction, M13, Northzone and Pantera as investors, with Flybridge and Hash3 also participating. (openfx.com) OpenFX says it was founded in January 2024, emerged from stealth in May 2025 with $23 million in earlier funding, and has grown from $10 billion to more than $45 billion in annualized payment volume. (openfx.com 1) (openfx.com 2) Cross-border payments are the systems businesses use to send money from one country to another, usually through several banks and foreign-exchange desks. OpenFX is selling an alternative: application programming interfaces that route currency conversion and settlement through a network it says can complete most transfers in under 60 minutes. (openfx.com) Reuters reported that OpenFX focuses on foreign-exchange market making and remittances, and that it is using stablecoins to speed up cross-border payments. CoinDesk described the model as a bridge between traditional banking rails and digital-asset settlement. (msn.com) (coindesk.com) The pitch lands at a time when other startups are also raising money to use stablecoins behind the scenes for business payments. TechCrunch reported seed funding in 2025 for Cedar Money and Mansa, two companies built around similar cross-border and liquidity problems. (techcrunch.com 1) (techcrunch.com 2) OpenFX says the old model often takes two to five business days and costs 3% to 5% once fees and foreign-exchange markups are included. On its website, the company says its network prices transfers at 0.01% to 0.3% and runs around the clock instead of only during banking hours. (openfx.com) Those claims come from OpenFX’s own marketing, and independent verification of its cost and speed across corridors is limited in the public record. But the size of the round shows investors are still willing to back payments infrastructure companies that promise cheaper settlement and more direct access to foreign-exchange liquidity. (openfx.com 1) (openfx.com 2)
