# PEXX Technology

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/pexx-technology

- Industry: Software
- Headquarters: Australia
- Website: www.pexx.com
- Total disclosed funding: $4.5M
- Latest round: Seed (Jul 16, 2024)
- Investors on record: 3

## About

Established in 2024 by CEO Marcus Lim and based in Australia, PEXX Technology Pty Ltd provides a platform that enables users to send and receive US Dollars (USD) in the form of stablecoins (USDT and USDC) to bank accounts worldwide. In July 2024, Pexx raised USD 4.5 million in seed funding from a lead investor Antler, TNB Aura, and EMO Capital.

PEXX’s core offering is its money transfer platform, which allows users to send stablecoins (USDT and USDC) to bank accounts in various countries. The platform is designed to handle transfers in 16 global currencies across 35 countries with an average transaction time of 15 minutes. PEXX also emphasizes the use of real-time exchange rates tied to Google Finance, ensuring that users benefit from accurate and up-to-date pricing. The company partners with Fireblocks for secure asset management and utilizes Ripple's blockchain technology for efficient cross-border transactions.

The company generates revenue through a transaction fee structure with an average fee of less than 1 per cent for different currencies (min. 20 USDT or USDC).

The company will use the July 2024 funding for the development of the product.

## Funding rounds

- Seed, Jul 16, 2024, $4.5M — Antler, TNB Aura, EmoCapital

## Investors

- Antler (https://capitalatlas.ai/funds/antler) — Seed
- TNB Aura (https://capitalatlas.ai/funds/tnb-aura) — Seed
- EmoCapital — Seed