Bound raises $24.5m Series A to automate FX hedging for businesses
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Bound, the automated FX risk management platform helping businesses protect themselves from currency volatility, today announced a $24.5 million Series A funding round led by AlbionVC, with participation from Notion Capital and GoHub Ventures, and continued support from existing investors.
Founded in 2021 by CEO Seth Phillips and CTO Dan Kindler, and headquartered in London, Bound helps businesses protect themselves from unwanted currency risk through automated FX hedging. The platform allows finance teams to set up simple, best-practice hedging strategies that run continuously in the background, automatically managing exposure to market volatility without the need for manual intervention or specialist trading expertise.
Bound will use the funding round to pursue regulatory authorisation in the European Union, as the company targets expansion in Europe, building on the nearly $2 billion it traded in 2025. The funding will also be used to drive product innovation for its perpetual FX hedging solutions.
The funding comes as geopolitical instability, trade uncertainty, and political decision-making have increasingly triggered sudden and material swings in global currency markets, directly impacting the revenues, margins, and cash flow of international businesses. Many legacy FX systems and traditional brokerages are unable to keep up in this new environment.
For many UK and European companies, a single political announcement or policy shift can significantly increase overheads or reduce the real value of sales. A sudden move in exchange rates can turn profitable contracts into loss-making ones, without any change in customer demand or operational performance. Fashion companies with large global purchasing footprints, venture capitalists investing across regions, or production companies with global location requirements could all be severely impacted.
Seth Phillips, Co-Founder and CEO of Bound, said, “The world is in a genuinely volatile state, and we don’t believe we’re heading back into a period of stability anytime soon. Exchange rate volatility has never been higher, and most businesses feel that whether they realise it or not. One of the most immediate ways that instability shows up is through currency markets. You can be running a healthy UK business with U.S. customers, and overnight, a social media post can cause currencies to fluctuate and significantly impact your business’s margins.
We believe all businesses can be protected against this risk. Managing FX well has traditionally been complicated, time-consuming, and intimidating. Our goal is simple: make it easy. Businesses should be able to protect themselves from currency risk without becoming FX experts, and we’ll be using this round to expand our mission across Europe.”
Jay Wilson, Partner at AlbionVC said, “Currency volatility has become a structural challenge for modern businesses, not a short-term anomaly. What impressed us about Bound is its clear understanding that FX risk management shouldn’t be reserved for multinational corporates with specialist treasury teams. FX risk management is an industry reliant on many legacy systems and is therefore ripe for disruption. Bound is building essential financial infrastructure that allows growing businesses to protect margins, plan with confidence, and operate internationally in an increasingly unstable world. We’re excited to support Seth and the team as they scale this capability to a much broader market.”
Itxaso del Palacio, General Partner at Notion Capital, said, “We backed Bound early on in their journey, recognising that the only consistency in exchange rates has been their inconsistency. Gone are the days of steady currency valuations. Seth and Dan were among the first founders to build for this new reality, and since our initial investment, Bound has evolved rapidly by embracing AI at its core. Today, Bound is becoming the right hand of CFOs, advising them on all aspects of FX decision-making. We’ve had such confidence in Bound that we’ve backed them since shortly after the Seed round and are excited to continue investing in their business. We’re looking forward to their further success as they expand into Europe and beyond.”
Inés Calabuig, Managing Partner at GoHub Ventures, said, “We strongly believe in Seth and Dan, and in their vision to tackle one of the most critical and enduring problems in global finance: FX volatility. What has traditionally been managed through opaque legacy systems is no longer fit for the reality businesses face today. Bound is using technology to bring transparency, automation, and intelligence to a real pain point for finance teams, enabling them to manage currency risk with far greater confidence and control. By building a modern, scalable approach to FX hedging, the team is redefining how businesses protect margins and cash flow. We’re excited to continue backing Bound as they scale across Europe and beyond.”
Peter Coleman, Senior Finance Manager at Tines, said, “Bound has transformed the way we deal with FX risk. Managing exposure across USD, EUR and AUD is key for our business, and Bound has given us a level of visibility we have not had before. Before Bound, we had to stay on top of rates and think about FX constantly; now we can set our approach and trust it to run in the background. Bound allows us to reduce our currency exposure to large market fluctuations, protecting against downside while retaining the ability to benefit when markets move in our favour. It’s become an integral part of our financial operations.”
Sky news has more here: https://news.sky.com/story/fx-risk-manager-bound-lands-25m-funding-boost-13503067
