- London-based fintech start-up attracts names from some of the world’s hottest tech companies, including AI unicorn People.ai, Uber, Tide and Revolut
- Bound has launched an intuitive, user-friendly foreign exchange hedging platform to cut the currency risk for businesses of all sizes
- Founders and VCs behind Klarna, Stash, Qonto and N26 have already invested more than $6.5m in seed capital, with Bound tipped to be the next big fintech success story
Bound, the hedging platform set to be a gamechanger for SMEs seeking protection from currency headwinds, has announced a number of key appointments.
The start-up, which launched in November 2021, has attracted talent from a string of global tech giants, leading FX firms and digital innovators in a major recruitment drive.
The appointments include Nikolay Vassilev from Uber, who joins as Engineering Manager.
Another new addition is Senior Engineer Robert Nunn, who previously worked for the digital bank Tide.
Meanwhile Maria Shramko joins as Senior Technical Recruiter from People.ai, a predictive sales management platform that achieved a $1.1billion valuation in 2021.
To complement its technical expertise, Bound has also added plenty of FX experience, including Jamie Sullivan, formerly of Monex Europe, who joins Bound’s business development team alongside recruits from some of London’s leading foreign exchange companies and the banking and payments app Revolut.
The rapid expansion reflects industry confidence in the Bound platform, which is being tipped by VCs to be one of Europe’s next major fintechs.
Bound was created to make FX hedging accessible to businesses of all sizes, giving protection and reassurance to any firm that trades internationally. Intuitive tools take the complexity and stress out of hedging, allowing those making overseas payments to lock in the best exchange rates and protect their bottom line.
Businesses can register on the platform in minutes, and its simple, jargon-free interface integrates seamlessly with the accounting systems most commonly used by SMEs.
Exchange rate fluctuations can be the difference between making a profit or a loss on a deal that involves buying foreign currency. Currently 94% of the world’s largest 500 companies use hedging to manage their currency risk**, whereas only 4% of UK SMEs protect themselves this way*. Bound aims to level the playing field, taking the complexity out of currency hedging and giving firms of all sizes the protection they need.
Seth Phillips, Founder of Bound, commented:
“The rapid growth of our team with high-calibre hires from big names in the fintech and FX world, including billion-dollar businesses, shows how the Bound story has captured the industry’s attention.
“Together with the backing we’ve received from VCs and global entrepreneurs, our recruitment drive is a statement of intent. We’re confident in our mission to make hedging possible for all firms, not just those with a FTSE listing.”