# VertoFX

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/vertofx

- Industry: Financial Services
- Headquarters: London, UK
- Website: www.vertofx.com
- Total disclosed funding: $12M
- Latest round: Series A (Oct 1, 2021)
- Investors on record: 9

## About

VertoFX Ltd. is a financial technology firm specializing in cross-border payments and foreign exchange solutions, providing businesses with efficient tools for managing international transactions and currency risk.Founded in 2017 by Angela Packard, Anthony O, George Hearn, Joshua Berkeley-Agyepong, and Ola Oyetayo, VertoFX Ltd. is headquartered in London, UK. The company has executed a total of 3 deals, with the latest round being a Seed funding of USD 1.2 mn raised on February 14, 2022. Angela Packard, who also serves as the CEO, has been instrumental in the company's growth and strategic direction.VertoFX provides a comprehensive suite of products designed to facilitate cross-border payments and foreign exchange (FX) solutions for businesses ranging from startups to enterprises. Their core offerings include Verto Accounts, allowing users to open local accounts for simplified international transactions, and Verto FX, a platform for real-time FX management across 49 currencies to mitigate market volatility. The Verto Atlas service offers embedded collections and payouts via API solutions, empowering clients to transact seamlessly with emerging markets. This unified platform serves various sectors including logistics, online retail, and the creator economy, enabling efficient expense management and currency control. VertoFX operates globally, serving clients in countries such as Nigeria, the United States, the United Kingdom, Kenya, South Africa, and China.VertoFX generates revenue primarily through transaction fees associated with its financial services, particularly related to cross-border payments and currency exchanges. The company employs a structured transaction model where businesses utilize its services to manage payments, streamlining their financial operations. For example, a retail business might leverage Verto Accounts to accept payments in multiple currencies while using the Verto FX service to hedge against currency fluctuations. Pricing structures align with the value delivered through these platforms, potentially including fees for each transaction processed or subscription models for premium services. Flagship offerings like Verto Accounts and Verto FX form the backbone of revenue-generating activities, catering to a diverse range of businesses seeking efficient and cost-effective payment solutions.In February 2022, VertoFX Ltd. raised USD 1.2 mn in Seed funding, led by an individual investor. The company plans to utilize these funds to expand its AI-driven 3D product visualization solution, making it commercially available to customers across various industries. Additionally, VertoFX aims to enter new geographic markets to enhance its service offerings and meet growing customer demands.

## Funding rounds

- Series A, Oct 1, 2021, $10M — Y Combinator, ACE & Company, TMT Investments, Middle East Venture Partners, Quona Capital, Accelerated Digital Ventures, Zrosk Investment Management, Treasury, P1 Ventures
- Seed, Jul 19, 2019, $2.1M — Y Combinator, Accelerated Digital Ventures

## Investors

- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Seed, Series A
- Accelerated Digital Ventures (https://capitalatlas.ai/funds/accelerated-digital-ventures) — Seed, Series A
- ACE & Company (https://capitalatlas.ai/funds/ace-company) — Series A
- TMT Investments (https://capitalatlas.ai/funds/tmt-investments) — Series A
- Middle East Venture Partners (https://capitalatlas.ai/funds/middle-east-venture-partners) — Series A
- Quona Capital (https://capitalatlas.ai/funds/quona-capital) — Series A
- Zrosk Investment Management (https://capitalatlas.ai/funds/zrosk-investment-management) — Series A
- Treasury (https://capitalatlas.ai/funds/treasury) — Series A
- P1 Ventures (https://capitalatlas.ai/funds/p1-ventures) — Series A