ALT21 offers automated currency hedging solutions through its X Hedge platform, enabling businesses to manage multi-currency accounts and execute cross-border payments with real-time transparency on transaction costs. This technology reduces the financial risks and costs associated with international transactions, providing businesses with competitive exchange rates and streamlined currency management.
Funding
$41.6M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Businesses engaged in international trade face significant costs and risks due to fluctuating exchange rates and hidden fees associated with multi-currency transactions. Traditional banking services and even some modern fintech solutions often lack transparency and charge high mark-ups, eroding profit margins for SMEs.
Solution
ALT21 provides a technology platform, X Hedge, that automates currency exchange and hedging processes, offering businesses transparent and cost-effective solutions for managing multi-currency accounts and cross-border payments. The platform delivers access to FX spot, forwards, and options with real-time transparency on transaction costs, ensuring businesses can make informed decisions to protect their financial operations. By charging a low, fixed fee of 0.04% on FX conversions and providing pre- and post-trade transparency, ALT21 enables businesses to significantly reduce FX costs compared to traditional banks and other alternative providers. The platform's straight-through processing and low human-touch approach minimizes operating costs, allowing ALT21 to offer competitive rates sustainably.
Target Audience
ALT21 primarily targets small and medium-sized enterprises (SMEs) involved in international trade, as well as banks and fintechs seeking to offer competitive FX and hedging solutions to their clients.
Features
- Multi-currency accounts supporting 34+ currencies
- FX Spot conversions with a transparent mark-up of 0.04%
- FX Forwards with fixed, flexible, and windowed options for up to 24-month tenors
- FX Options for tailored margin protection
- Real-time pre-trade and post-trade transparency on mark-ups
- 24/7 self-service access
- Integration with Temenos banking platform via BankHedge for banks to offer automated FX hedging solutions to SME clients
- API for integration with marketplaces and fintech platforms