# Baanx Group

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/baanx-group

- Industry: Financial Services
- Headquarters: London, UK
- Website: www.baanx.com/
- Total disclosed funding: $18M
- Latest round: Series A (Sep 29, 2023)
- Investors on record: 4

## About

Founded in 2018 and based in London, UK, Baanx Group Ltd. operates as a financial technology company that offers an online platform on which users can do financial transactions like payments using cryptocurrencies. Garth Howat (CEO) and Mark Evans (CCO) are the co-founders of the company. In March 2024, Baanx Group Ltd. raised USD 20 million in Series A funding co-led by Chiron Partners, British Business Bank, Tezos Foundation, and Ledger.

The company's primary product, the Baanx Platform, is an API-driven solution that allows organizations to develop fintech products. The firm offers modules adapted to different sectors and brands, as well as APIs for cards, remittances, FX, exchanges, and wallets. The Banx platform allows businesses to offer their customers low-cost payments worldwide using its Payments API. 

In addition, the company's compliance as a service offering helps companies manage regulatory difficulties by providing services like transaction monitoring, biometric KYC and AML, fraud protection, and risk monitoring. The business also provides SMS remittance of fiat and digital assets, as well as exchange services for customers wanting to leverage digital assets. AlphaPoint and Euno are among the company's business partners. 

The organization plans to use the March 2024 funding to enter the US and Latin American markets in late 2024.

## Funding rounds

- Series A, Sep 29, 2023, $18M — British Business Bank, Tezos Foundation, Chiron, Ledger

## Investors

- British Business Bank (https://capitalatlas.ai/funds/british-business-bank) — Series A
- Tezos Foundation — Series A
- Chiron (https://capitalatlas.ai/funds/chiron) — Series A
- Ledger — Series A