OpenFX raises $94 million in funding round led by Accel, Lightspeed
31 Mar 2026, 07:15 PMThe round values the company at around $500 million.
By Arti Singh
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OpenFX, a fintech infrastructure startup focused on cross-border payments, has raised $94 million in a funding round led by Accel, Lightspeed Faction, M13, Northzone, and Pantera.
The round values the company at around $500 million.
The fresh capital will be used to expand into Southeast Asia and Latin America, where stablecoin adoption is growing rapidly.
Founded in 2024 by Prabhakar Reddy, OpenFX provides infrastructure for instant, 24/7 cross-border foreign exchange and payments. The platform offers a stablecoin-native network designed as a faster and cheaper alternative to traditional banking systems, reducing settlement times to under an hour. It primarily caters to B2B treasury and remittance use cases.
The company leverages blockchain-based currencies to enable faster and more cost-efficient transactions, particularly for businesses handling large volumes of capital, connecting traditional banking systems with digital infrastructure using stablecoins as a bridge for near-instant FX conversion.
It claims to reduce costs by up to 90% compared to traditional banking systems and currently processes over $45 billion in annualized payment volume, up from $4 billion a year ago.
OpenFX had previously raised $23 million in a seed funding round in May 2024.
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