Fintech start-up Grain bags over $50m in funding to launch FX management solution
Israel-based fintech start-up Grain has secured over $50 million in funding to launch its new platform designed to help commerce companies optimise FX for cross-border transactions.
Fintech start-up Grain debuts with $50m+ in funding
The company has emerged from stealth after raising $18 million in seed funding and a more recent $33 million Series A round, which was led by Bain Capital Ventures. Also participating in this latest round were existing investors Aleph, Vesey Ventures and Hanaco Ventures.
Founded in 2022, Grain operates an API-based embedded FX hedging solution designed for software platforms, payment service providers and B2B marketplaces. The solution harnesses AI to enable automated settlement, FX exposure analysis and fund transfers, with additional spot transaction, local currency collection and virtual FX account services.
Claiming to have already processed over $1 billion in annual transactions during its stealth phase, the start-up says it will use its latest funding to “accelerate product development and double its workforce, currently at 25 employees, by year’s end”.
This team is led by CEO Dor Golan, a former managing partner at Blue Orca Capital; CBO Aharon Navon, who formerly led Barclays CEEMEA FX and rates trading; ex-Barclays Israel exec Michal Beinisch as COO; and CPO Nir Galon.
