Frex Raises Rs 9.5 crore in pre-seed funding round

Frex, a peer-to-peer payments platform, has raised Rs 9.5 crore in a pre-seed funding round co-led by Zeropearl VC and White Venture Capital.

The round also saw participation from a group of strategic angels including, Abhiraj Singh Bhal, Varun Khaitan and Raghav Chandra of Urban Company, Pradeep Parameswaran, CRED founder Kunal Shah, and Rishabh Goel.

The funds will be used to expand the company’s on- and off-ramp infrastructure in North America and India, improve compliance and regulatory systems, scale engineering and ledger operations, and speed up go-to-market efforts targeting NRI and migrant worker communities.

Read also- Conscious Chemist raises $1.8 Mn funding led by Atomic Capital

Aditya Varma, Founder and Chief Executive Officer of Frex, said in a statement, “Cross border payments remain one of the slowest and most expensive areas of financial services, and this burden falls directly on migrants and global workers. With more than two trillion dollars moving across borders every year, we see a massive opportunity to transform this experience end to end. We are glad to have White Venture Capital and Zero Pearl as partners as we build a platform that makes global money movement fast, fair and transparent.”

Bipin Shah, Managing Partner at Zeropearl VC, said in a statement, “India has one of the largest and most affluent global diasporas in the world. Despite being the largest recipient of personal remittances globally, there is no Desi platform that features among the top global remittance players today. We believe Frex is well positioned to change this and build a category defining global payments company from India.”

About Frex 

Co-founded this year by Aditya Varma, Himanshu Arora and Nikhil Shanker, the Gurugram-based Frex is a peer-to-peer platform for fast, low-cost cross-border money transfers. It offers near-instant settlements, better-than-mid-market rates, and transparent pricing. By combining blockchain technology with local banking and strict compliance, Frex makes sending money abroad simple, affordable, and reliable.

Advertisment

The platform is designed for immigrants and global workers, helping them send money home instantly without the high fees and hidden charges typical of traditional remittance services. Frex tackles delays, lack of pricing transparency, and forex markups of 1–5%, aiming to make international transfers as seamless as domestic digital payments.

Since launching in November, Frex has seen growing adoption and transaction volumes, and it expects to surpass $1 million in monthly transfers within the next two to three months.

Want to go deeper into the world of startups and entrepreneurship? Check out these categories on VIESTORIES:

Latest Business and Startup News: Discover Funding Trends and Stories Shaping Indian Startups.

Startup Funding News: Your Gateway to Every Funding Update.

Latest Startup News: Stay updated with the latest startup news and trends. Your go-to source for startup ecosystem updates.

Startup Stories: Discover inspiring tales of startups overcoming challenges, and achieving success.

Advertisment