Freemarket secures growth capital investment from Baird Capital
B2B cross-border payments and currency exchange provider Freemarket has announced a growth capital investment from Baird Capital’s Global Private Equity Fund. Baird Capital is the direct private investment arm of US wealth management and investment banking firm Robert W. Baird & Co.
The investment supports Freemarket’s continuing growth and international expansion, as well as providing a partial cash-out to existing shareholders.
Financial details of the transaction were not disclosed.
Freemarket provides its customers with B2B cross-border payments through its proprietary technology platform. Freemarket’s global banking network and innovative technology platform enables customers to send payments/funds efficiently to over 100 countries in 140 currencies, removing cross-border payments complexities, improving transparency and increasing efficiency.
Alex Hunn, Freemarket’s Founder and CEO said:
“We are delighted to partner with Baird Capital at this exciting stage in Freemarket’s growth journey. Baird Capital’s partnership approach, international capabilities, Financial Services sector expertise and cultural alignment made them the obvious partner for us and our clients.”
Michael Holgate, Partner with Baird Capital’s Global Private Equity team added:
“Alex and team have built a fantastic business. We are excited to support Freemarket’s ambitious growth plans. Freemarket is a high growth business with a differentiated technology platform operating in a large and resilient global market. The business has many potential growth avenues, and we are delighted to be selected as Freemarket’s investment partner.”
Michael Holgate has also joined Freemarket’s board of directors.
About Freemarket
Freemarket, founded by former MF Global executive Alex Hunn, works with businesses to accelerate their growth by giving them access to cross-border payments and currency exchange in over 140 currencies and across 100 countries optimized for their needs through a single API integration and its proprietary platform.