Forexfix
Hedging currency risks online.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor | €0.0 | round | |
| investor investor | €0.0 | round | |
N/A | Acquisition | ||
| Total Funding | 000k | ||
| EUR | 2019 |
|---|---|
| Revenues | 0000 |
| EBITDA | 0000 |
| Profit | 0000 |
| EV | 0000 |
| EV / revenue | 00.0x |
| EV / EBITDA | 00.0x |
| R&D budget | 0000 |
Source: Company filings or news article
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Forexfix GmbH was a Berlin-based financial technology firm established to address the foreign exchange needs of small and medium-sized enterprises (SMEs). Founded in February 2017 by Robert Kröber, Gerhard Maringer, and Jonathan Loesing, the company was built on the founders' combined experience in banking, finance IT, and international business. The core belief driving the company was that SMEs were historically overcharged and underserved by traditional banks for their international payment and currency hedging needs.
The company's primary service was an online platform for currency risk management and cross-border payments. It targeted businesses such as machine-builders, hardware startups, and travel agencies that operate internationally. The platform allowed clients to execute international money transfers and, crucially, to hedge against volatile exchange rates, thereby protecting their profits from currency fluctuations. This service was distinguished by being one of the first in Germany to offer a completely online solution for currency hedging, designed for simplicity and to provide more competitive fees than incumbent financial institutions.
In December 2019, Forexfix was acquired by iBanFirst, a larger global financial services provider. The acquisition was a strategic move for iBanFirst to expand its footprint into the German-speaking markets of Germany, Austria, and Switzerland. Following the acquisition, Forexfix's clients gained access to iBanFirst's more comprehensive platform, which included features like multi-currency accounts with dedicated IBANs and broader financing options. Robert Kröber joined iBanFirst to lead its German operations. The legal entity Forexfix GmbH entered liquidation in early 2022.
Keywords: Forexfix, currency risk management, cross-border payments, SME financial services, foreign exchange, currency hedging, B2B fintech, international money transfers, iBanFirst acquisition, Robert Kröber, Gerhard Maringer, Berlin fintech, German startup, payment solutions, currency fluctuation, online hedging, financial software, international trade finance