Giroxx

Giroxx GmbH, established in Frankfurt, Germany in 2015, operated a fintech platform focused on streamlining foreign remittances for small and medium-sized enterprises (SMEs). The company was founded by Klaus Hoffmann and Jörg Sonnenschein, both of whom brought extensive experience from leadership roles in banking and currency brokerage. Their background provided them with direct insight into the market's need for a more efficient and cost-effective solution for international payments, which were often complex and expensive for smaller businesses.

The firm's core business was providing a digital platform for cross-border money transfers and foreign exchange hedging services. It targeted SMEs in Germany, Austria, and Switzerland, offering an alternative to traditional banking services. Giroxx's business model was centered on charging flat fees and providing transparent exchange rates, which could be up to 50% lower than those of conventional banks. The company did not require minimum turnover or charge account maintenance fees, which made its services accessible to a broader range of businesses.

The platform enabled users to execute single or bulk payments and engage in forward transactions for hedging currency risk. A key feature was the ability to lock in an exchange rate at the time of the transaction, offering clients certainty against currency fluctuations. The service supported payments in over 30 currencies. The technology, developed in-house, prioritized high security standards while ensuring a straightforward user experience.

Giroxx successfully completed several funding rounds, raising a total of $2.38 million. These rounds included investments from Hessen Kapital and INNOFINCENTA. In January 2020, INTL FCStone Inc. (now StoneX Group Inc.) announced its agreement to acquire Giroxx. The acquisition became legally effective in May 2020 and was finalized in October of the same year, with Giroxx being rebranded as StoneX Financial GmbH and integrated into StoneX's Global Payments Division. This acquisition allowed StoneX to extend its payment services to the SME market segment. Following the acquisition, founders Klaus Hoffmann and Jörg Sonnenschein took on roles as Managing Directors of the new entity, StoneX Financial GmbH.

Keywords: foreign exchange, cross-border payments, SME financial services, fintech platform, currency hedging, international money transfer, payment processing, forex services, corporate payments, B2B payments, financial software, remittance services, Frankfurt fintech, StoneX Group, international trade finance, payment solutions, currency risk management, digital payments, European fintech, transaction services