Navro Raises $41M to Expand Global Payments Platform Beyond Europe
London’s thriving FinTech scene continues to make headlines, with Navro, a company focused on international payment solutions, recently securing an impressive $41 million in a Series B funding round. This substantial investment positions Navro to enhance its offerings and expand its global reach.
Funding Details and Investors
As reported by TechEU, the Series B funding was spearheaded by Jump Capital, with contributions from notable investors such as Bain Capital Ventures, Motive Partners, and Unusual Ventures. This financial boost will enable Navro to further develop its innovative platform.
About Navro’s Services
Navro specializes in simplifying the complexities associated with cross-border business transactions. Key features of its platform include:
- Global collections
- Currency conversion
- International payouts
These services help businesses optimize cash flow, expedite reconciliation processes, and minimize administrative tasks.
Expansion Plans
With the recent influx of capital, Navro aims to expand into major international markets, specifically:
- United States
- Hong Kong
- Dubai
- India
In addition to geographical expansion, the company plans to enhance its payment curation capabilities by:
- Integrating over 30 digital wallets
- Expanding its Automated Clearing House (ACH) corridor coverage
- Introducing new real-time payment solutions
The UK FinTech Landscape
Recent data indicates that the UK remains a leader in FinTech investment, attracting more capital than France, Germany, China, India, Brazil, and Canada combined.
Investor Confidence
Robert Hutchins, a partner at Jump Capital, expressed strong confidence in Navro’s strategy. He stated, “We’ve spent considerable time searching for a payments platform that comprehends the intricate technical and regulatory challenges of global payouts. Navro not only understands this complexity but is also building the infrastructure to address it. Aran and his team offer a unique mix of market insight, executional rigor, and product clarity that distinguishes them in the industry.”
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