Dublin and London-based fintech, Navro (formerly Paytrix), has secured $14 million in funding to simplify international payments for online businesses. The round, led by Bain Capital and Unusual Ventures, comes as the company gears up for expansion and regulatory compliance.
Industry Snapshot:
- The global cross-border e-commerce market is expected to reach a staggering $8.1 trillion by 2026, highlighting the growing need for seamless international payment solutions.
- Businesses often struggle with navigating complex regulations, fees, and processes when expanding into new markets.
Enter Navro:
- This innovative platform acts as a payments curation hub, allowing online businesses to manage international payments with one contract and one API.
- This streamlined approach eliminates the hassle of juggling multiple providers and navigating different regulations in each market.
- Navro recently received its Electronic Money Institution (EMI) license from the Central Bank of Ireland, further solidifying its position as a trusted and compliant solution.
Aran Brown, CEO of Navro, shares his vision:
“International payments are a major pain point for many businesses,” he explains. “Navro removes this headache by providing a single, regulated solution for managing complex cross-border transactions. This funding will fuel our expansion and equip us to meet the ever-growing demand for smooth and secure international payments.”
Funding Highlights for Navro
| Field | Details |
|---|---|
| Company | Navro (formerly Paytrix) |
| Location | Dublin, Ireland & London, UK |
| Industry | Fintech |
| Funding Type | Series Unknown |
| Amount Raised | $14 Million |
| Investors | Bain Capital, Unusual Ventures, Motive Partners, Fin Capital |
| Product | Payments curation platform for international payments |
| Product Description | Simplifies international payments with one contract & one API |
| Use of Funds | Increase reserves & meet regulatory capital requirements |
| Milestone | Received EMI license from Central Bank of Ireland |
Navro’s latest funding and regulatory approval position the company to become a key player in the booming international payments market. With its user-friendly platform and focus on compliance, Navro is poised to help businesses navigate the complexities of global expansion with ease.
Stay tuned to Startup Dope for further updates on Navro’s journey and the future of streamlined international payments!