Funding · Financial Services

Frex raises ₹9.5 Cr pre-seed for blockchain remittance

What they do

Frex is a cross-border remittance startup using blockchain and stablecoins for near-real-time transfers

It raised ₹9.5 Cr in a pre-seed round co-led by Zeropearl VC and White Venture Capital

The global digital remittance market is projected to reach $60 Bn by 2030

Frex is a cross-border remittance startup that uses blockchain and stablecoin rails.
It enables near-real-time transfers at better-than-mid-market FX rates with zero fees.
The company launched in November 2025.
Frex raised ₹9.5 Cr in a pre-seed round.
The round was co-led by Zeropearl VC and White Venture Capital.
Angel investors include Kunal Shah (CRED), Abhiraj Singh Bhal (Urban Company), Varun Khaitan (Urban Company), and Pradeep Parameswaran (Uber).
Frex is targeting $1 Mn in monthly transfer volume within its first few months.

The global digital remittance market is projected to reach $60 Bn by 2030, growing at a CAGR of 16.7% from 2025 to 2030.
Frex competes with established players like Wise and Remitly.
Its use of blockchain and stablecoins aims to undercut traditional remittance fees and delays.

Frex is targeting $1 Mn in monthly transfer volume within its first few months.

Product: to-peer payments platform
Customers: Immigrants, non-resident Indians, and global workers sending cross-border remittances.
How it makes money: Foreign exchange spreads and transaction fees on international remittances.
What sets it apart: Combines blockchain rails with local banking integrations for near-instant settlement and low-cost transfers.