Summary:
- Tensec, a Palo Alto-based financial services company, secured $12 million in seed funding from various investors.
- The company plans to use the funds to expand its operations and business reach.
- Tensec offers a platform that enables global trading companies to provide FX services, cross-border payments, and other financial services to SMB clients.
Article:
Tensec Secures $12 Million in Seed Funding
Tensec, a financial services company based in Palo Alto, California, recently announced that it has raised $12 million in seed funding. The funding round was led by Costanoa Ventures, with participation from Quiet Capital, WillowTree Investments, Cambrian VC, Ignia Partners, Montage Ventures, Renegade Partners, and Endeavor Scale Up Ventures.
The company, led by CEO Helcio Nobre and COO Sandrine Okasmaa, plans to use the funds to expand its operations and business reach. Tensec leverages AI, real-time payments, and a global fintech infrastructure to offer a no-integration platform that allows global trading companies to provide foreign exchange (FX) services, cross-border payments, treasury services, and more to their SMB clients. Currently, the company works with customers who facilitate an impressive $10 billion in annual trade volume.
Headquartered in San Francisco, Tensec also has offices in New York, Mexico City, and São Paulo. The company’s banking services in the United States are provided by Stearns Bank, a Member FDIC institution.
Overall, Tensec’s latest funding round will enable the company to further enhance its platform and continue to support global trading companies in offering essential financial services to their SMB clients.
Conclusion
Tensec’s successful seed funding round reflects the growing demand for innovative financial services solutions in today’s global market. With a strong focus on leveraging AI and real-time payments, Tensec is well-positioned to continue making a significant impact in the cross-border financial services sector.
