BNP Paribas is to acquire FX fintech Kantox for an undisclosed sum. The deal comes three years after the two firms signed a strategic partnership agreement.
Kantox's flagship Kantox Dynamic Hedging product integrates exposure management, rules-based hedge execution, reporting and analytics into a single foreign exchange software solution.
Thierry Laborde, Chief Operating Officer at BNP Paribas, said the deal "demonstrates the group’s ambition to strengthen the technology dimension of our GTS strategic plan, in particular with our ability to establish long-term partnerships with fintechs as with Nickel and FLOA."
At Kantox, CEO and co-founder Philippe Gelis said: “We have been serving clients together since 2019 when our technology partnership started. During those 3 years, we spent a lot of time together in the field, getting the opportunity to understand that together we were stronger and able to bring more value to clients. It is the best of both worlds, the leading software company in the currency management automation category and the leading bank in Europe.”
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