Routefusion Raises $10.5 Million

Routefusion, the most comprehensive fintech solution for unlocking global expansion, today announced a $10.5 million Seed Prime Funding Round led by Canvas Ventures and Silverton Partners, with Haymaker Ventures, Initialized Capital, Sherwin Gandi (co-founder of Jeeves), and Aldrin Clement also participating (co-founder of Novel Bank).

Routefusion has welcomed Rebecca Lynn, co-founder and general partner of Canvas Ventures, to its board of directors. The company has grown by +200 per cent in organic customer growth and +5000 per cent in revenue during the last 11 months.

Large banking institutions have traditionally dominated cross-border payments solutions, which have been plagued by issues such as limited accessibility, long settlement delays with high transaction fees, and a lack of transparency for both individual customers and companies.