Frex has secured ₹9.5 crore in pre-seed funding co-led by Zeropearl VC and White Venture Capital. Strategic angels joining the round include Abhiraj Singh Bhal, Varun Khaitan, and Raghav Chandra from Urban Company; Pradeep Parameswaran; CRED founder Kunal Shah; and Rishabh Goel. The funds will drive expansion of on- and off-ramp networks in North America and India, bolster compliance across major corridors, upgrade engineering and ledger tech, and ramp up outreach to NRIs and migrant workers.
At its core, Frex delivers a transformative user experience: better-than-mid-market exchange rates, near-instant settlement speeds, fully transparent pricing, and zero transaction fees. By integrating modern blockchain technology with robust local banking partnerships and stringent compliance measures, the platform ensures secure, swift global money movement that rivals the simplicity of India’s UPI for domestic transactions. This innovation directly empowers immigrants and overseas workers to send funds home effortlessly, bridging a vital financial lifeline for families in emerging economies.
Since its November 2025 launch, Frex has witnessed rapid adoption and climbing transaction volumes within immigrant networks, with ambitions to surpass $1 million in monthly transfers over the next 2-3 months. Positioned as a nimble challenger to established players in the remittance space, Frex capitalises on India’s status as the world’s top remittance recipient, where demand for affordable, real-time solutions continues to surge amid global migration trends and digital payment proliferation.
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This funding milestone validates Frex’s execution potential and technology edge, setting the stage for broader market penetration. As cross-border payments evolve, Frex’s commitment to speed, affordability, and reliability could unlock unprecedented financial inclusion for millions dependent on international earnings.
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