Frex has closed a ₹9.5 crore pre-seed funding round co-led by Zeropearl VC and White Venture Capital.
The round also saw participation from strategic angel investors including Urban Company’s Abhiraj Singh Bhal, Varun Khaitan, and Raghav Chandra, along with Pradeep Parameswaran, Kunal Shah, and Rishabh Goel.
The company plans to deploy the capital towards expanding its on- and off-ramp network across India and North America. Frex will also invest in compliance and regulatory layers for major payment corridors, strengthen its engineering and ledger stack, and grow its outreach within NRI and migrant worker groups.
Founded in April 2025 by Aditya Varma, Himanshu Arora, and Nikhil Shanker, Frex offers a peer-to-peer payments platform designed for instant and low-cost international transfers. The system combines blockchain rails with local banking integrations and provides better-than-mid-market rates with near-instant settlement.
Frex focuses on simplifying global money movement for immigrants and workers who typically face delays, hidden charges, and forex mark-ups of 1–5% when sending money home. Since launching in November, the startup has seen increasing transaction volumes and expects to cross $1 million in monthly transfers within the next two to three months.
The company operates in a competitive category that includes Wise, Remitly, and Xoom.
