Philippe Gelis, co-fouder and CEO of Kantox

The British Chamber of Commerce has assisted our growth strategy“ ”

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Kantox, founded in 2011, provides a complete foreign exchange management solution to SMEs and mid-cap companies, leveraging technology. The company has its headquarters and the operations o�ces in London and Barcelona, with 60 employees across both o�ces. The United Kingdom and Spain are therefore two essential markets for them. Kantox is on the verge of completing a total of $2 billion in total trades across all markets, of which the UK and Spain are some of their most important and form a large part of this �gure.

Our main aim is to consolidate and grow

our position in our European markets

and build on what we have already achieved

Kantox emerged out of the distrust towards the banking sector during the crisis. How did Kantox manage to take advantage of the crisis? The crisis has a�ected our business for good and for bad. After the 2008 �nancial collapse, trust in banks was at an all-time low. People really started to look at alternative options more seriously, though tangible alternative options to what the banks o�er were on the table for the �rst time too.In this regard, the crisis helped us to attract clients let down and disillusioned with the banking sector. We achieve this by guaranteeing total transparency in our pricing and exchange rates.

In addition, how did the crisis a�ect your business? Though it is hard to quantify, the crisis may have a�ected us in the same way it a�ected most businesses, some businesses perhaps did not make as large FX trades as they would otherwise in a state of “normality.” We have grown aggressively thus far in 2015, though stating exactly whether this is due to a European economic recovery is di�cult to say, though the European quantitative easing programme’s positive results so far is a good omen for business for the rest of the year and for 2016.

What activities does Kantox have planned in the near future?Europe is our primary focus. Our main aim is to consolidate and grow our position in our European markets and build on what we have already achieved – 1,600 clients with just under $2 billion in total FX transactions processed. We entered the Israeli market recently however and we do have intercontinental ambitions, though this is a more medium- to long-term goal.

How has British Chamber of Commerce contributed to your business?The British Chamber of Commerce has assisted our growth strategy. The chamber’s unrivalled experience, resources and knowhow have been crucial in helping us forge the right business relationships, make informed, well-researched decisions and in optimising our business strategy for the UK market.

Which are the favourable factors for your business between Spain and United Kingdom? Some of them include ease of communication and transport between both countries. As both countries are part of the European Union, much of the “red tape” is similar. An added bonus is that having two hubs, in London and Barcelona, gives us greater pull in attracting top talent from two countries, and in the case of London, the most important �nancial city in the world. Our company has an international, multicultural makeup, which is crucial for our business model. This is largely because of the relationship we have between our Spain and UK operations.

What are the barriers? The main barriers include di�erent cultural norms. It can take time, for example, for a new recruit to adjust to the working culture of the other country, at least in the beginning. Other factors include the di�erence in how the FX market works in each country. Rather than learning how business practice works for one country, many team members must adapt to both. This may be a challenge at �rst, but it makes our team more knowledgeable and for that reason, more powerful.

Philippe Gelis, co-founder and CEO of Kantox