AbbeyCross Lands $2.47M Pre-seed Funding Round Led by Third Prime

AbbeyCross, a business-to-business FX trading and compliance marketplace for emerging market (EM) currencies, has announced a $2.47 million pre-seed funding round.

The investment was led by Third Prime with participation from Communitas Capital and 11 strategic angel investors from within the payments industry.

Pre-seed funds will be used to develop the company's solution and change the Emerging Market (EM) currency payment market for the better.

Mike Robertson, CEO and Co-founder of AbbeyCross, said: "We are thrilled to have seen such great support and enthusiasm from the market for our pre-seed round. We are grateful to our investors and look forward to developing the AbbeyCross solution and changing the EM currency market for the better. The current situation is intolerable and unsustainable for those who rely upon the exchange of EM currencies, the banks and payment providers and the regulators themselves. Price transparency and deeper liquidity is desperately needed and that is what AbbeyCross intends to deliver."