9th May, 2022 - Australia-based fintech startup, Fluenccy, prepares to open its Seed round to prospective Early VCs in the second half of 2022.
Fluenccy is an embedded finance platform powering better foreign currency experiences for businesses. Since starting in March 2021, the business has developed and launched two firsts for SMEs: Currency Score, the first foreign currency benchmarking tool specifically for SMEs; and Invoice Manager, unique invoice-based FX management software simplifying and automating hedging.
Having been supported by Dovetail Ventures and Angel investors in their A$1.1M Pre-Seed round, the startup will look to raise $2.7M to expand its MVP rollout in Australia and the UK, and achieve product market fit by 2023.
Headed up by Tony Crivelli, former SVP of Global Payments at Western Union, Fluenccy is in a strong position to disrupt and digitalise FX hedging for small businesses.
Tony Crivelli comments, “Today, most SMEs don’t plan their FX because it’s complex and costly. They see a loss of $38B on average each year globally. We’re changing that with our software, and a modern service approach. SMEs don’t need another ‘faster, cheaper, better’ payments platform to reduce their FX costs - they need to be more ‘fluent in currency’ to reduce their FX losses. They need Fluenccy.”