Frex Raises Rs 9.5 Crore to Scale Low-Cost Cross-Border Payment
- Frex secures Rs 9.5 crore in pre-seed funding led by Zeropearl VC and White Venture Capital
- Funds to strengthen compliance, expand payment infrastructure, and scale operations in India & North America
- Platform aims to offer instant, affordable global money transfers for immigrants and workers
Frex, a peer-to-peer cross-border payments startup, has raised Rs 9.5 crore in a pre-seed round led by Zeropearl VC and White Venture Capital. Several well-known angel investors also participated, including Urban Company founders Abhiraj Singh Bhal, Varun Khaitan and Raghav Chandra, along with Pradeep Parameswaran, CRED founder Kunal Shah, and Rishabh Goel.
The company plans to use the capital to expand its on-ramp and off-ramp infrastructure across North America and India. A significant portion of the funding will also go toward strengthening Frex’s compliance systems, scaling its engineering and ledger stack, and accelerating its go-to-market efforts in key immigrant and NRI corridors.
Founded this year by Aditya Varma, Himanshu Arora and Nikhil Shanker, Frex enables instant and low-cost global money transfers. The platform offers better-than-mid-market exchange rates, near-instant settlements, and full pricing transparency. By combining blockchain-based infrastructure with strict regulatory standards and local banking integrations, Frex aims to make global remittances as seamless as domestic digital payments.
Also Read: Conscious Chemist Secures $1.8 Million Led by Atomic Capital
The startup focuses on solving long-standing issues in global money movement slow transfer times, hidden fees, and forex mark-ups that often run between 1% and 5%. Frex positions itself as a faster, more affordable alternative to traditional remittance providers, many of which can take days to process a transaction.
Since launching in November, Frex says it has seen strong early traction with immigrant communities and expects to cross $1 million in monthly transfer volume in the next two to three months. The company will compete with established players like Wise, Remitly and Xoom, but believes its pricing transparency and near-instant settlement will help it stand out.
