Navro, the London-headquartered fintech that simplifies international payments for businesses, today announces a raise of $41m in Series-B funding to accelerate global expansion plans and connect more local payout and collection services worldwide. Jump Capital led the round with participation from Bain Capital Ventures, Motive Partners, and Unusual Ventures.
The fresh capital will power Navro’s ambitious growth strategy for 2025 and beyond, which includes extending operations into more US states, Dubai, Hong Kong and India. In the coming months, the Navro payments curation platform – which provides access to the best local payment services through one platform, one API, and one contract – will integrate 30+ digital wallets, more ACH corridors, and dozens of new real-time payment options.
Aran Brown, CEO of Navro, said: “Our vision is empowering businesses to transact like locals wherever they are. The Navro platform has been built from scratch to handle both the operational intensity and regulatory complexity surrounding large volumes of incoming and outgoing international transactions. The next round of expansion goes into and beyond the world’s financial hubs. We’re seeing increasing demand for fast, reliable cost-effective payouts on local rails in compliance-driven sectors such as global workforce and supplier payments, and pensions.“
The Navro platform supports cross-border collections, currency conversion, and global payouts while reducing working capital requirements by up to 70%. Other benefits include lower costs, faster account reconciliation and a significantly reduced administrative burden. Following recent customer acquisitions, Navro is now processing workforce and supplier payments for hundreds of large corporations and more than 1,000 pension schemes.
“With this new capital, we’re expanding our licensing footprint, integrating faster payment methods, and growing our support for customers in regulated industries,” said Brown. “We’ve spent the last three years building the foundation and now this round provides us the resources to move even faster as we scale into new markets.”
“We’ve spent some time looking for a payments platform that truly understands the nuanced, technical, and regulatory challenges of global payouts,” shared Robert Hutchins, partner at Jump Capital. “Navro not only grasps this complexity, it’s building the infrastructure to solve it. Aran and the team bring a rare combination of deep market insight, executional rigor, and product clarity that we believe sets them apart in this space.”
Today, Navro clients can collect funds locally in 35 locations, and hold, convert and make payouts in more than 200 countries and 140 currencies – over half of which are delivered in real-time or on the same day globally.
Read the orginal article: https://ffnews.com/newsarticle/funding/navro-series-b-raises-41m-to-accelerate-global-expansion/
