MillTech Secures $60M for North American Expansion and AI-Driven FX Hedging
MillTech has raised £45.1m ($60m) to accelerate its growth in North America and enhance its FX hedging platform. The investment responds to increasing demand for automated treasury solutions, highlighting the potential for technology-driven financial operations.
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MillTech has secured £45.1m ($60m) from Apax Digital Funds, elevating its valuation to £244.1m ($325m). The funding will support the expansion into North America and enhance its treasury and FX hedging solutions, responding to a notable demand surge for automation in currency management.
A survey indicated that 80% of companies faced losses from unhedged currency exposure in 2025, with US firms averaging £7.4m ($9.8m) in losses. Recent developments include an AI-enabled risk advisory tool, Co-Pilot, and a cash management feature created in collaboration with BlackRock.
This investment reflects a broader trend towards fintech solutions that improve treasury operations and governance. The ability to leverage existing client relationships for capital is a model gaining traction among fintechs as they enter new markets.
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