Navro aims to simplify international payments for businesses through its curated payments platform. By providing access to banking infrastructure with one contract and API, it reduces the costs and compliance complexities associated with cross-border transactions. Navro supports global platforms in areas such as payroll, pensions, and workforce management, enabling real-time payments in over 200 countries and 140 currencies. This allows companies to scale internationally and ensure compliance.
Jump Capital led the recent funding round, joined by Bain Capital Ventures, Motive Partners, and Unusual Ventures. This new investment is intended to support Navro's growth strategy for 2025, which includes expanding operations into additional US states, as well as Dubai, Hong Kong, and India. In the coming months, the Navro payments curation platform will be updated to provide access to local payment services through a single platform, one API, and one contract. It will incorporate over 30 digital wallets, increase ACH corridors, and introduce numerous new real-time payment options.
According to the company data, the Navro platform facilitates cross-border collections, currency conversion, and global payouts, all while decreasing working capital needs by up to 70%. Additional advantages include reduced costs, quicker account reconciliation, and a decrease in administrative workload.
In November 2024, Navro obtained a Foreign Money Services Business (FMSB) registration in Canada, granted by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). This registration enabled the company to offer money transfer services to businesses across the country.
Following this announcement, Navro was committed to addressing the needs, preferences, and demands of clients and customers in a constantly changing market. The company prioritised compliance with industry regulations and legal requirements while striving to increase its services.
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