Bound’s mission is to make it effortless for businesses to deal with currency risk. Currency risk is when a business earns revenue in one currency and has costs in another. When a business has currency risk, it can lose money when exchange rates move around. Millions of businesses globally face currency risk every day. 96% of the FTSE 500 have hedging programmes in place to mitigate their foreign currency risk, while only 4% of SMEs in the UK do the same.
We’re looking to help the rest of those 96% of SMEs.
We are an enthusiastic team and have raised a +$17mm seed in 2021 from investors behind companies like Wise (formerly TransferWise), Klarna, N26, Stash, Xero.