EFEX, the financial platform focused on global treasury and cross-border payments for mid-market companies, announced the closing of an $8 million seed round co-led by PayPal Ventures and Floodgate, with participation from Contour Venture Partners and Nido Ventures.
The fintech, founded by Dimitri Zaninovich and Santiago Bustamante, is based in Mexico and the United States, and allows companies to open multi-currency accounts, collect in local currency in 31 countries and process transfers in more than 140 destinations.
The capital will be used to accelerate the integration of artificial intelligence into its operational infrastructure and consolidate its expansion in the Mexico-United States trade corridor, one of the most important on the continent. Traditional cross-border payments still take one to three business days, with costs between 5% and 7% of the transaction amount, according to the World Bank.
Traction checked before lifting
EFEX comes to this round with solid numbers: it grew 6 times in revenue during 2025 and processed more than US$1 billion in payment volume in that same period. The company has already expanded its presence to the main business centers in Mexico, including Mexico City, Monterrey and Guadalajara.
“We raised this round to modernize the way companies move money across borders. With proven traction, we are building a new layer of global treasury designed for the way companies operate today and where they are going,” said Zaninovich, co-founder and CEO of EFEX.
The vision: global treasury for growing companies
In the short term, EFEX aims to become the reference platform for corporate treasury services in Mexico. Its proposal includes individual, massive and forward transfers, local collections in 31 markets and business accounts in multiple currencies, all under the authorization of the National Banking and Securities Commission (CNBV).
In the long term, its vision is to be the global ally of companies seeking to expand internationally, eliminating friction in the movement of cross-border capital for industries such as automotive, manufacturing, food and beverages, among others.
More than 60% of companies in emerging markets still face delays and high costs in their international payments, according to the Bank for International Settlements, positioning EFEX at the center of a large-scale structural opportunity.
