Bound, a London-based platform specializing in automated foreign exchange risk management, has announced the closing of a $24.5 million Series A funding round. The round was led by AlbionVC, with participation from Notion Capital and GoHub Ventures.

Expansion and product development

The company plans to use the new capital to obtain the necessary regulatory authorizations to expand into the European Union. In addition, the funds will support continued product development, with a focus on innovating its perpetual foreign exchange risk hedging solutions. In 2023, Bound managed a trading volume of nearly $2 billion.

Market context

The announcement comes at a time of heightened geopolitical instability and trade uncertainty, which translate into increased volatility in global currency markets. These fluctuations expose companies operating internationally to significant financial risks, as sudden exchange rate movements can have a significant impact on revenues, margins and cash flows. Bound's platform aims to provide companies with automated tools to mitigate these risks, implementing hedging strategies that operate in the background without requiring manual intervention.