Cross Border Payments Infra Firm OpenFX Raises $94 Million at $500 Million Valuation for Expansion

OpenFX, a fintech infrastructure startup focused on global payments, has raised fresh capital as it looks to scale its technology and expand into new international markets.  

The funding highlights growing investor interest in faster and more efficient alternatives to traditional cross-border transaction systems. 

Funding Details and Expansion Plans 

The company has secured $94 million in a funding round backed by investors including Accel, Lightspeed Faction, M13, Northzone and Pantera.  

The round values the company at approximately $500 million. This follows an earlier seed round of $23 million raised in May last year. 

The newly raised capital will be used to expand operations into Southeast Asia and Latin America, regions where adoption of stablecoin-based financial infrastructure is increasing.  

The company aims to strengthen its presence in these markets by building out its payment and foreign exchange infrastructure. 

Platform Capabilities and Technology 

Founded in 2024 by Prabhakar Reddy, OpenFX provides infrastructure for real-time cross-border foreign exchange and payments. Its platform operates continuously and is designed to enable transactions with significantly faster settlement compared to traditional systems. 

The company’s network is built around stablecoins, allowing near-instant currency conversion and reducing settlement timelines to under 1 hour, compared to the typical 2–5 day cycle seen in conventional banking channels. It also claims to lower transaction costs by up to 90%. 

OpenFX offers API-based solutions covering foreign exchange, treasury management, and instant payouts. These services are targeted at fintech companies, neobanks, enterprises, and remittance platforms that require efficient handling of high-volume transactions. 

Scale, Operations and Growth 

The company currently operates across key markets including the U.S., the U.K., the UAE and India. Its infrastructure connects traditional banking systems with blockchain-based payment networks, enabling faster and more cost-efficient transactions. 

OpenFX reports an annualised payment volume exceeding $45 billion, a sharp increase from $4 billion recorded a year earlier, driven by strong demand from financial technology firms and enterprise clients. 

As part of its India strategy, the company appointed Sourav Karmakar, a former CoinDCX executive, to lead its local operations in December 2025. 

Read More: Robotics Startup Physical Intelligence Seeks $1 Billion Funding Targeting $11 Billion Valuation! 

Conclusion 

With its latest funding round, OpenFX is positioning itself as a key player in next-generation global payments, leveraging stablecoin technology to improve speed, efficiency and cost in cross-border transactions. 

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