A fintech platform for small and medium sized businesses has launched following a £2 million funding round.
The HedgeFlows platform had been designed to enable the seamless management of foreign payments, cashflows and invoices, giving ambitious companies access to services often denied by the big banks.
The FCA-licenced company was founded by former bankers Alex Axentiev and Neh Thaker. Axentiev has overseen emerging markets and currency trading services for international banks and helped multinational corporations manage their international finances. Thaker has held senior executive roles at Bank of America, Merrill Lynch and Standard Chartered, including Global Head of Financial Markets with multi-billion dollar revenues and over 1000 employees across 50+ countries.
In a similar way to companies such as Xero and Quickbooks which have revolutionised the accounting market, HedgeFlows aims to empower businesses to better plan and manage their financial needs in any currency.
The Hedgeflows platform helps businesses grow and improve their international trade capabilities to sell across borders. It also automates management of the risks involved in foreign trade such as volatile exchange rates, fraud or hidden costs. Most small businesses don’t currently have access to the right tools or support to trade internationally in a safe way larger, more established companies do.
Neh Thaker said: “In challenging economic times, businesses need to be empowered to drive growth. For too long, operational and financial barriers have been in place that have stifled entrepreneurs from taking their businesses to the next level. HedgeFlows will change all this, giving a level playing field for scale-ups, so they can enjoy the capabilities previously enjoyed only by a select few enterprise size businesses.”
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