Bound, an automated FX risk management platform helping businesses protect themselves from currency volatility, has raised £18 million in a Series A round led by AlbionVC, with participation from Notion Capital and GoHub Ventures. Founded in 2021 by Seth Phillips and Dan Kindler, it provides FX hedging tools designed to help businesses manage currency risk as markets fluctuate.
It offers automated FX hedging solutions that enable businesses to protect against unwanted currency risk by using integrated, off-the-shelf strategies. The platform allows finance teams to design automated FX tools that operate continuously in the background and react to market volatility without requiring manual intervention from users or institutional FX hedging providers.
The Series A funding will be used to pursue regulatory authorisation in the European Union and support expansion in Europe, as it looks to grow the just under $2 billion it traded in 2025. Funding will also support product innovation for its perpetual FX hedging solutions.
The round comes amid increasing geopolitical instability, trade uncertainty, and political decision-making that can trigger sudden swings in global currency markets, affecting the revenues, margins, and cash flow of international businesses. Legacy FX systems and traditional brokerages are described as struggling to keep pace with these conditions.
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. 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.
Seth Phillips, Co-founder & CEO
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.
Jay Wilson, Partner at AlbionVC
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.
Itxaso del Palacio, General Partner at Notion Capital
