The foreign exchange service industry in the US facilitates the buying and selling of currencies, enabling international trade and investment. Companies ranging from banks to fintech startups offer services like currency exchange, remittances, and cross-border payments. The industry has seen a surge in digitalization, with more consumers turning to online platforms for convenience and lower fees. Emerging technologies like blockchain are poised to reshape the sector, enhancing security and efficiency in transactions. As globalization continues, the demand for forex services is projected to grow, leading companies to innovate and adapt to shifting market dynamics.


This list features prominent investors who shape the foreign exchange service industry in the US. The diversity of investment firms includes established venture capital and private equity firms headquartered in hubs like San Francisco and New York. Their sizes range from small teams to large firms, and they were founded from as early as 1956 to 2023. Collectively, they made 1,500 deals in 2024, showcasing their active support for innovative financial solutions that drive the forex market forward.


Top 19 Foreign Exchange Service Investors in the US


1. Y Combinator

  • Website: ycombinator.com
  • Type: Venture Capital
  • Headquarters: San Francisco, California, United States (USA)
  • Founded year: 2005
  • Headcount: 51-200
  • Number of deals in 2024: 802
  • LinkedIn: y-combinator

Y Combinator is a prominent startup accelerator and venture capital firm based in San Francisco, California, founded in 2005. It provides funding and mentorship to early-stage technology companies through a structured program that helps entrepreneurs launch and grow their businesses. With over 4,000 startups launched, Y Combinator has established itself as a key player in the technology startup ecosystem. Notably, Y Combinator has invested in several fintech companies that are relevant to the foreign exchange service industry. For instance, it participated in funding rounds for Verto, a London-based fintech startup that focuses on foreign exchange services, raising $2.1 million in a seed round in 2019 and $10 million in a Series A round in 2021. Additionally, Y Combinator was involved in the seed funding of Moneytis, which raised $120,000 in 2017, a platform that aids in currency exchange and remittances. These transactions highlight Y Combinator's engagement in the foreign exchange service sector, alongside its broader focus on technology startups.


2. Dcg

  • Website: dcg.co
  • Type: Venture Capital
  • Headquarters: Stamford, Connecticut, United States (USA)
  • Founded year: 2015
  • Headcount: 11-50
  • Number of deals in 2024: 19
  • LinkedIn: digital-currency-group

Digital Currency Group (Dcg) is a venture capital firm based in Stamford, Connecticut, specializing in blockchain and cryptocurrency investments. Founded in 2015, Dcg has made significant strides in the digital asset landscape, providing equity and fund investments, crypto asset management, and institutional financial services. Among its notable transactions, Dcg participated in the Series A funding round for BCB Group, which raised $60 million and is known for providing business accounts, cryptocurrency, and foreign exchange market liquidity. This involvement highlights Dcg's commitment to supporting companies that operate at the intersection of cryptocurrency and foreign exchange services. Additionally, Dcg has invested in AZA Finance, a company that has raised funds to enhance its services in the financial sector, further demonstrating its engagement in the foreign exchange service context.


3. IFC - International Finance Corporation

  • Website: ifc.org
  • Type: Venture Capital
  • Headquarters: Washington, D.C., District Of Columbia, United States (USA)
  • Founded year: 1956
  • Headcount: 1001-5000
  • Number of deals in 2024: 107
  • LinkedIn: ifclinkedin

The International Finance Corporation (IFC) is a not-for-profit organization established in 1956, headquartered in Washington, D.C. It focuses on private sector development in emerging markets by providing investment, advisory, and asset management services to businesses and financial institutions. IFC operates in over 100 countries, addressing poverty and promoting sustainable development. Among its notable transactions, IFC has invested in Currencycloud, which raised $80 million in a Series E funding round to enhance its cross-border payment capabilities. Additionally, IFC participated in Remitly's funding rounds, contributing to their efforts to improve money transfer services and expand into new markets in Latin America. These investments demonstrate IFC's active role in the foreign exchange service sector, supporting companies that facilitate international payments and remittances.


4. 500 Global

  • Website: 500.co
  • Type: Venture Capital
  • Headquarters: San Francisco, California, United States (USA)
  • Founded year: 2010
  • Headcount: 201-500
  • Number of deals in 2024: 98
  • LinkedIn: 500-startups

500 Global is a venture capital firm and startup accelerator based in San Francisco, California, founded in 2010. The firm specializes in investing in early-stage technology companies, providing not only funding but also mentorship and resources to help founders scale their businesses. Among their notable transactions, 500 Global invested in RemitBee Money Transfer & FX, which raised funds in a seed round in 2015, highlighting their engagement in the foreign exchange service sector. Additionally, they participated in funding rounds for Chipper Cash, a prominent African fintech startup that facilitates cross-border payments and money transfers, raising significant amounts across multiple funding rounds, including $100 million in Series C and $13.8 million in Series A. These investments illustrate 500 Global's commitment to supporting innovative solutions in the foreign exchange and money transfer industry.


5. Pantera Capital

  • Website: panteracapital.com
  • Type: Venture Capital
  • Headquarters: Menlo Park, California, United States (USA)
  • Founded year: 2003
  • Headcount: 51-200
  • Number of deals in 2024: 23
  • LinkedIn: pantera-capital

Pantera Capital is an investment firm specializing in blockchain technology and digital assets, founded in 2003 and based in Menlo Park, California. The firm offers various investment funds, including venture equity and liquid tokens, aimed at accredited investors. Pantera Capital has been actively involved in the foreign exchange service industry through its investments in companies like BCB Group, which raised $60 million in a Series A funding round to provide business accounts, cryptocurrency and foreign exchange market liquidity, and custody services for major financial institutions. Additionally, their early investments in AZA Finance, which raised $6.7 million in Series A funding, highlight their commitment to supporting innovative solutions in the foreign exchange market. Overall, Pantera Capital's structured investment opportunities help clients navigate the complexities of the blockchain and foreign exchange markets.


6. Tiger Global

  • Website: tigerglobal.com
  • Type: Venture Capital
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 2001
  • Headcount: 51-200
  • Number of deals in 2024: 25
  • LinkedIn: tiger-global-management

Tiger Global Management, LLC is a prominent investment firm based in New York, specializing in both public and private equity investments. Founded in 2001, the firm manages approximately $50 billion and focuses on innovative companies leveraging technology. Tiger Global's clients include institutional investors and high-net-worth individuals seeking expert investment management and advisory services. Notably, Tiger Global has invested in several key fintech companies that are integral to the foreign exchange service industry. For instance, they led a significant funding round for Revolut, a fintech company valued at $33 billion, which provides currency exchange and international money transfer services. Additionally, their investment in Flutterwave, Africa's leading payments technology company, highlights their commitment to supporting platforms that facilitate cross-border transactions. These transactions underscore Tiger Global's strategic interest in the financial technology sector, particularly in areas related to foreign exchange services.


7. Plug and Play Tech Center


Plug and Play Tech Center is an innovation hub and venture capital firm based in Sunnyvale, California, founded in 2006. They connect startups with corporations to foster growth and innovation, offering various programs including accelerator initiatives and investment opportunities primarily in the technology sector. In 2024 alone, they made 253 investments, showcasing their active role in the venture capital landscape. Among their notable transactions, Plug and Play has invested in AZA Finance, which raised $6.7 million in Series A funding, and Paysend, an international remittance platform that secured $125 million in Series B funding with their participation. These investments highlight their engagement in the foreign exchange service industry, as both companies are involved in facilitating international money transfers and remittances. Additionally, they have invested in Flutterwave, a company that provides payment solutions across Africa, further emphasizing their focus on companies that operate within the financial technology and foreign exchange sectors.


8. FJ Labs

  • Website: fjlabs.com
  • Type: Venture Capital
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 2015
  • Headcount: 11-50
  • Number of deals in 2024: 169
  • LinkedIn: fj-labs

FJ Labs is a venture capital firm based in New York, founded in 2015, that specializes in investing in marketplace and network effect businesses. With a portfolio of over 1,000 companies, many of which have achieved unicorn status, FJ Labs provides capital and strategic guidance to entrepreneurs across various industries, including e-commerce and logistics. Notably, FJ Labs has participated in significant funding rounds for companies like Revolut, which raised $250 million in a Series C round in 2018, positioning itself as a leader in the foreign exchange service industry. Additionally, they were involved in Rapyd's $300 million Series D funding round in 2021, a fintech firm that focuses on expanding its global payments platform, further emphasizing FJ Labs' engagement in the fintech and foreign exchange sectors.


9. Silicon Valley Bank

  • Website: svb.com
  • Type: Venture Capital
  • Headquarters: Santa Clara, California, United States (USA)
  • Founded year: 1983
  • Headcount: 5001-10000
  • Number of deals in 2024: 31
  • LinkedIn: silicon-valley-bank

Silicon Valley Bank (SVB) is a commercial bank founded in 1983, located in Santa Clara, California, specializing in providing financial services to the innovation economy, particularly tech startups and venture capital firms. With a workforce of 5001-10000 employees, SVB offers a range of products including business banking, global payments, and asset management. In recent years, SVB has made significant investments in the foreign exchange service sector, including a $5.7 million debt financing round for Kantox, a company that enhances technology in the FX market. Additionally, SVB has provided substantial funding to Wise, a leading fintech that facilitates international money transfers, including a €185.3 million refinancing deal to support Wise's operational needs. These transactions highlight SVB's active role in the foreign exchange service industry, showcasing their commitment to supporting innovative financial solutions.


10. Goodwater Capital

  • Website: goodwatercap.com
  • Type: Venture Capital
  • Headquarters: Burlingame, California, United States (USA)
  • Founded year: 2014
  • Headcount: 51-200
  • Number of deals in 2024: 41
  • LinkedIn: goodwater-capital

Goodwater Capital is a venture capital firm based in Burlingame, California, founded in 2014. The firm specializes in consumer technology and supports seed-stage entrepreneurs by providing investment, resources, and a community to help them grow. Goodwater focuses on various sectors, including healthcare and financial services, aiming to improve access to technology solutions for underserved communities. Among its notable transactions, Goodwater has invested in companies like Afriex, which raised $100,000 in a venture round in June 2022, and LemFi, which secured $125,000 in a pre-seed round in August 2021. These investments highlight Goodwater's engagement with startups that are involved in financial services, particularly those that may facilitate foreign exchange transactions. Additionally, Goodwater's investment in Elevate Pay, which raised $5 million in June 2024 and $6.5 million in July 2022, further emphasizes its commitment to supporting innovative financial solutions.


11. Goldman Sachs

  • Website: goldmansachs.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1998
  • Headcount: 10001+
  • Number of deals in 2024: 59
  • LinkedIn: goldman-sachs

Goldman Sachs is an investment bank and financial services firm based in New York, New York, founded in 1998. With over 10,000 employees, it provides a wide range of services including investment banking, asset management, and wealth management. Goldman Sachs serves a diverse clientele, including corporations, financial institutions, and individuals, helping them navigate complex financial challenges and achieve their financial goals. In recent years, Goldman Sachs has been involved in several significant transactions relevant to the foreign exchange service context. For instance, they participated in Remitly's $85 million debt financing round, which focuses on international money transfers, a key aspect of foreign exchange services. They also invested in Veem, which raised $25 million in a venture round and aims to facilitate cross-border payments, further emphasizing their interest in the foreign exchange sector. Additionally, their investment in Circle, a company that promotes the adoption of digital currencies, highlights their engagement with innovative financial technologies that intersect with foreign exchange services. Overall, Goldman Sachs' diverse investment activities and strategic involvement in the payments and remittance sectors position them as a relevant player in the foreign exchange service industry.


12. Polychain Capital

  • Website: polychain.capital
  • Type: Venture Capital
  • Headquarters: San Francisco, California, United States (USA)
  • Founded year: 2016
  • Headcount: 11-50
  • Number of deals in 2024: 53
  • LinkedIn: polychain-capital

Polychain Capital is a venture capital firm based in San Francisco, California, founded in 2016. The firm specializes in blockchain and cryptocurrency assets, offering investment management and portfolio management services to investors seeking exposure to this emerging asset class. With a focus on generating exceptional returns through actively managed portfolios of digital assets, Polychain Capital has been involved in several notable transactions. Among these, they participated in the Series E funding round for Coinbase, a major platform for buying, selling, and storing cryptocurrencies, which raised $300 million and was valued at over $8 billion. Additionally, Polychain has invested in Yellow Card, a prominent cryptocurrency exchange in Africa, participating in multiple funding rounds including Series A, B, and C, which collectively raised significant capital to enhance financial inclusion through cryptocurrency services. These investments highlight Polychain's active role in the foreign exchange service industry, particularly within the cryptocurrency sector.


13. Circle


Circle Internet Financial Limited is a financial technology company founded in 2013, specializing in cryptocurrency and digital payments. It offers services such as USDC, a stablecoin pegged to the U.S. dollar, and various Web3 solutions aimed at businesses and developers. Circle's mission is to facilitate cross-border payments and provide global dollar access, addressing the needs of organizations in the digital economy. Notably, Circle has participated in significant transactions relevant to the foreign exchange service sector, including a $60 million Series A funding round for BCB Group, which provides business accounts, cryptocurrency, and foreign exchange market liquidity. Additionally, their investment in Trace Finance, which aims to streamline capital exchange across borders, further emphasizes their commitment to enhancing foreign exchange services.


14. Accel

  • Website: accel.com
  • Type: Venture Capital
  • Headquarters: Palo Alto, California, United States (USA)
  • Founded year: 1983
  • Headcount: 51-200
  • Number of deals in 2024: 101
  • LinkedIn: accel-vc

Accel is a venture capital firm founded in 1983, based in Palo Alto, California, specializing in investing in startups and early-stage companies primarily in the technology sector. With a global presence that includes offices in London, India, and China, Accel has made a significant impact in various industries. Notably, Accel has been involved in multiple funding rounds for WorldRemit, a UK-based startup focused on disrupting the remittance market through online and mobile technology. Accel participated in Series A, B, C, and D funding rounds for WorldRemit, contributing to a total of over $300 million raised by the company. Additionally, Accel's investment in Circle, a cryptocurrency payments platform, further demonstrates its engagement in the financial technology space, which intersects with foreign exchange services.


15. Deep Tech Fund (an Alumni Ventures Fund)

  • Website: av.vc
  • Type: Venture Capital
  • Headquarters: Manchester, New Hampshire, United States (USA)
  • Founded year: 2023
  • Headcount: 51-200
  • Number of deals in 2024: 258
  • LinkedIn: deep-tech-fund-av-focused-fund

The Deep Tech Fund (an Alumni Ventures Fund) is a venture capital firm based in Manchester, New Hampshire, founded in 2023. It provides accredited investors and institutions with access to professionally-managed, diversified venture portfolios, leveraging a network of over 10,000 investors to connect them with high-quality investment opportunities in the startup ecosystem. The fund has been actively involved in various transactions, including notable investments in companies like Circle, which raised $9M in Series A funding to enhance the adoption of digital currencies, and Veem, which focuses on simplifying international payments. Additionally, their recent investments in Nala and Klasha, both of which are involved in financial services and payment solutions, further highlight their commitment to the foreign exchange service industry.


16. Dragonfly


Dragonfly is a corporate investor based in San Francisco, California, founded in 2018. It is a crypto investment fund that specializes in backing innovative cryptocurrency projects and teams, providing investment management and research services to help these teams navigate the complexities of the crypto landscape. Dragonfly has been actively involved in various funding rounds, including notable transactions such as Afriex, a Nigerian fintech startup that raised $10 million to enhance its services in cross-border payments, and TruBit, which raised $6.25 million to expand its crypto offerings, particularly focusing on OTC services and international transfers. These investments highlight Dragonfly's commitment to fostering growth in the cryptocurrency sector while also engaging with the foreign exchange service industry.


17. SV Angel

  • Website: svangel.com
  • Type: Venture Capital
  • Headquarters: San Francisco, California, United States (USA)
  • Founded year: 2009
  • Headcount: 1-10
  • Number of deals in 2024: 44
  • LinkedIn: sv-angel

SV Angel is a venture capital firm based in San Francisco, California, founded in 2009. The firm specializes in early-stage and growth-stage investments, primarily in the technology sector. SV Angel provides financial backing, strategic advice, and access to a vast network of industry experts to support founders in navigating business challenges. Notably, SV Angel has participated in significant transactions within the foreign exchange service context, including a $6 million investment in Wise (formerly TransferWise) in 2013, a peer-to-peer international money transfer service. They also invested in Coinbase, which, while primarily a cryptocurrency platform, operates in a space that intersects with foreign exchange services. In 2024, SV Angel participated in a seed funding round for nsave, a Swiss FinTech company, further demonstrating their commitment to investing in innovative financial solutions. These transactions underscore SV Angel's active role in the fintech landscape, particularly in areas related to foreign exchange services.


18. Endeavor

  • Website: endeavor.org
  • Type: Venture Capital
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1997
  • Headcount: 501-1000
  • Number of deals in 2024: 27
  • LinkedIn: endeavor_2

Endeavor is a not-for-profit organization founded in 1997, based in New York, New York, that supports high-impact entrepreneurs by providing mentorship, education, and investment opportunities. It operates a global network aimed at transforming economies through entrepreneurship, helping businesses scale and create jobs in emerging markets. Endeavor has made significant investments in the foreign exchange service context, including notable transactions such as Flutterwave, which raised $35 million in a Series B round, and dLocal, a cross-border payment platform that received a $200 million investment. Additionally, Endeavor has invested in Bitso, which raised $62 million in a Series B round, and Thunes, which completed a Series C funding round raising over $60 million. These investments highlight Endeavor's commitment to supporting innovative companies that are addressing global inefficiencies in money movement and cross-border transactions.


19. CMT Digital

  • Website: cmt.digital
  • Type: Venture Capital
  • Headquarters: Chicago, Illinois, United States (USA)
  • Founded year: 2017
  • Headcount: 51-200
  • Number of deals in 2024: 20
  • LinkedIn: cmt-digital-ltd

CMT Digital is a venture capital firm based in Chicago, Illinois, founded in 2017. The firm specializes in early-stage investments in blockchain technology and supports startups in the blockchain and cryptocurrency sectors by providing capital and expertise to help them grow and innovate. CMT Digital has been involved in several notable transactions, including investments in Circle, a prominent player in the cryptocurrency space, and Lemon Cash, which raised $27.8 million in Series A funding. Notably, they participated in the seed funding round for Busha, a Nigerian crypto-exchange platform, which raised $4.2 million to expand its operations across Africa. This diverse portfolio demonstrates CMT Digital's commitment to fostering innovation in the financial technology landscape, particularly in areas that intersect with foreign exchange services.



Foreign Exchange Service Insights: Key Investors in the US


InvestorHeadquarterSizeFoundedDeals 2024
Y CombinatorSan Francisco, California, United States (USA)51-2002005802
DcgStamford, Connecticut, United States (USA)11-50201519
IFC - International Finance CorporationWashington, D.C., District Of Columbia, United States (USA)1001-50001956107
500 GlobalSan Francisco, California, United States (USA)201-500201098
Pantera CapitalMenlo Park, California, United States (USA)51-200200323
Tiger GlobalNew York, New York, United States (USA)51-200200125
Plug and Play Tech CenterSunnyvale, California, United States (USA)501-10002006253
FJ LabsNew York, New York, United States (USA)11-502015169
Silicon Valley BankSanta Clara, California, United States (USA)5001-10000198331
Goodwater CapitalBurlingame, California, United States (USA)51-200201441
Goldman SachsNew York, New York, United States (USA)10001+199859
Polychain CapitalSan Francisco, California, United States (USA)11-50201653
CircleUnited States (USA)501-1000201316
AccelPalo Alto, California, United States (USA)51-2001983101
Deep Tech Fund (an Alumni Ventures Fund)Manchester, New Hampshire, United States (USA)51-2002023258
DragonflySan Francisco, California, United States (USA)11-50201826
SV AngelSan Francisco, California, United States (USA)1-10200944
EndeavorNew York, New York, United States (USA)501-1000199727
CMT DigitalChicago, Illinois, United States (USA)51-200201720


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