When was OpenFX founded?

OpenFX was founded in 2024 and raised its 1st funding round 1 year after it was founded.

Where is OpenFX located?

OpenFX is headquartered in Miami, United States.

Who is the current CEO of OpenFX?

Prabhakar Reddy of OpenFX. They have also founded 2 companies and are angel investors in 10 startups, including FalconX.

How many employees does OpenFX have?

As of Apr 30, 2026, the latest employee count at OpenFX is 61.

Is OpenFX a funded company?

OpenFX is a funded company, having raised a total of $117M across 2 funding rounds to date. The company's 1st funding round was a $***** Seed round, raised on May 22, 2025.

When was the latest funding round of OpenFX?

OpenFX's latest funding was a $***** Series A round on Mar 31, 2026, with participation from 5 investors.

Where does OpenFX rank among its competitors?

OpenFX ranks 28th amongst 833 active competitors, of which 110 are funded. It stands 6th in terms of total funding among its competitors. The most recent competitor to raise funding was OpenFX, which secured an undisclosed amount in Mar, 2026.

Who are the top competitors of OpenFX?

OpenFX's top competitors include Payoneer, Remitly and Wise. Among them, OpenFX secured the most recent funding round in March, 2026.

OpenFX - 2026 Company Profile, Team, Funding & Competitors

OpenFX is a series A company based in Miami (United States), founded in 2024 by Prabhakar Reddy. It operates as a Provider of infrastructure for instant, low-cost, cross-border foreign exchange liquidity. OpenFX has raised $117M in funding from investors like Accel, Northzone and Pantera Capital. The company has 833 active competitors, including 110 funded and 43 that have exited. Its top competitors include companies like Payoneer, Remitly and Wise.

Company Details

Provider of infrastructure for instant, low-cost, cross-border foreign exchange liquidity. The platform facilitates faster settlements and transparent pricing through an optimized network. It offers an alternative to traditional banking systems, providing continuous availability. The infrastructure supports various enterprises with collections, payouts, treasury management, settlement, and clearing.

Website: www.openfx.com/
Email ID: *****@openfx.com, *****@openfx.com

Key Metrics

Founded Year

2024

Location

Miami, United States

Stage

Series A

Total Funding

$117M in 2 rounds

Latest Funding Round

Series A, Mar 31, 2026, $*****

Investors

Accel & 9 more

Ranked

28^th among 833 active competitors

Employee Count

61 as on Apr 30, 2026

Investment & Acquisitions

Levl

Similar Companies

Remitly & 850 more

View OpenFX's full profile

OpenFX is associated with 1 legal entity given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
RED ENVELOPE ALPHA INC. CIN: 2616986 , United States, Active	Nov 13, 2023	-	-	-

OpenFX has raised a total funding of $117M over 2 rounds. Its first funding round was on May 22, 2025. Its latest funding round was a Series A round on Mar 31, 2026 for $*****. 5 investors participated in its latest round. OpenFX has 10 institutional investors.

Here is the list of recent funding rounds of OpenFX:

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Mar 31, 2026	6673464	Series A	2937849	6203474	6041124	3359388
May 22, 2025	1649050	Seed	9478722	6662460	Accel	NFX & 4 more

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View details of OpenFX's funding rounds and investors

The founders of OpenFX is Prabhakar Reddy. Prabhakar Reddy is the CEO of OpenFX.

Here are the details of OpenFX's key team members:

Prabhakar Reddy: Founder & CEO of OpenFX and founder of 1 other company. They are also an angel investor in 10 startups.
Contact Info: 2 email addresses

View details of OpenFX's Founder profiles and Board Members

OpenFX's employee count trend

OpenFX has 61 employees as of Apr 26. Here is OpenFX's employee count trend over the years:

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Top competitors of OpenFX include Payoneer, Remitly and Wise. Here is the list of Top 10 competitors of OpenFX, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Payoneer 2005, New York City (United States), Public	Provider of cross-border payment solutions for freelancers, businesses, and marketplaces	$269M	TCV, Wellington & 22 others	84/100
2nd	Remitly 2011, Seattle (United States), Public	Provider of international money transfer services with multiple delivery options	$436M	Generation Investment Management, PayU & 39 others	84/100
3rd	Wise 2011, Shoreditch (United Kingdom), Public	Provider of international money transfer and multi-currency	$1.03B	Lone Pine Capital, Valar Ventures & 116 others	83/100
4th	Ebury 2009, London (United Kingdom), Acquired	Provider of global payment solutions, currency risk management, and business lending	$374M	Vitruvian Partners, 83NORTH & 17 others	79/100
5th	Venmo 2009, New York City (United States), Acquired	Provider of a platform for sending and receiving payments between users	$1.3M	Greycroft, Founder Collective & 8 others	76/100
6th	Xoom 2001, San Francisco (United States), Acquired	Provider of online service for international money transfers, bill payments	$106M	Fidelity Ventures, DAG Ventures & 12 others	76/100
7th	TransferGo 2012, London (United Kingdom), Series C	Cross-border remittance solution for consumers and businesses	$110M	Practica Capital, VEF & 45 others	74/100
8th	Kadmos 2021, Germany, Acquired	Provider of a platform for managing and automating international salary payments	$38.9M	Blossom Capital, Addition & 21 others	73/100
9th	Tipalti 2010, Foster City (United States), Series F	Cloud-based procurement and invoice management solutions for businesses	$553M	Zeev Ventures, G Squared & 22 others	73/100
10th	Remessa Online 2016, Sao Paulo (Brazil), Acquired	Provider of international money transfer services for individuals and businesses	$21.5M	Kaszek, Bewater Ventures & 4 others	73/100
28th	OpenFX 2024, Miami (United States), Series A	Provider of infrastructure for instant, low-cost, cross-border foreign exchange liquidity	$117M	Lightspeed Venture Partners, Castle Island Ventures ... & 8 others	58/100