Synopsis-
“Citi, an American national investment bank and also a foreign exchange specialist, has made a strategic investment in Rextie.”
Foreign exchange, also called Forex, is an important part of a country’s economy. Since it converts the currency of one country to another, it makes sure that foreign currency should be exchanged rightfully.
In the same context, Citi, an American national investment bank and also a foreign exchange specialist, has made a strategic investment in Rextie. The investment will allow CitiFX technology to be integrated into the currency exchange services of Rextie.
How will the integration of CitiFX technology help Rextie?
With the help of CitiFX Pulse and Instant Payments, clients of Rextie, one of Peru’s FinTechs for FX services, will get a service with impeccable real-time payments, automation, higher liquidity, and highly competitive rates.
Mateu Batle, CEO and Co-founder of Rextie said, “Going forward, Rextie will focus its efforts on attracting more small and medium-sized businesses, including customers involved in import and export activities. Also, we will accelerate our growth supported by our experience, knowledge, and specialized technologies that will be empowered by Citi. We thank this prestigious financial institution for trusting our business model and supporting our vision, consolidating the brand in the Peruvian market, Canada, and other countries in the region.”
Rextie anticipates crossing 7.0 billion dollars exchanged in the platform since the start of CitiFX technology has integrated.
Aldo Alvarez, Lead for LatAm Strategic Investments at Citi, said, “Rextie’s founders have created a high-growth business, with a proven product-market fit and a strong foundation of repeat clients. We are excited to invest in a company that’s participating in a very dynamic market in Peru,”.
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Who made this strategic investment?
Citi’s Institutional Strategic Investments (ISI) arm made this strategic investment in Rextie. It also invests in new-age FinTech companies worldwide that are strategically connected to Citi’s institutional businesses.
