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1716

Prabhakar Reddy

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Prabhakar Reddy
CEO & Co-Founder of
OpenFX (2024)
About

Prabhakar Reddy is Founder and CEO of OpenFX, a cross-border payments infrastructure company processing over $45 billion in annual payment volume. OpenFX enables real-time FX settlements that are 99% faster and up to 90% cheaper than traditional systems.

Before founding

Prabhakar attended Harvard Business School and began his career as a venture investor at Accel, backing early-stage technology companies. He co-founded FalconX, the digital asset prime brokerage valued at $8 billion, before launching OpenFX.

Founder Insights

Prabhakar is a serial entrepreneur who has co-founded four companies, with two previous ventures acquired. He is also an angel investor in 10 startups focused on blockchain technology and fintech.

Experience

OpenFX raised $94 million in Series A funding from Accel, Atomico, Lightspeed, Northzone, and Pantera, following an initial $23 million seed round. The company grew from $4 billion to over $45 billion in annualized payment volume within its first year.

Scale & Impact

OpenFX serves major clients including MoneyGram, Yellow Card, and alfred, with 98% of transactions settling in under 60 minutes compared to the industry standard of 2 to 7 days. The platform supports over 40 trading pairs across the US, UK, UAE, and India.

1716

Prabhakar Reddy

OpenFX
Founder & CEO
Logo
Prabhakar Reddy

Company(s)

OpenFX

Industry

Fintech

Year Founded

2024

Stage/Funding

Series A • $117M

Company Location

us

Connect

About

Prabhakar Reddy is Founder and CEO of OpenFX, a cross-border payments infrastructure company processing over $45 billion in annual payment volume. OpenFX enables real-time FX settlements that are 99% faster and up to 90% cheaper than traditional systems.

Before founding

Prabhakar attended Harvard Business School and began his career as a venture investor at Accel, backing early-stage technology companies. He co-founded FalconX, the digital asset prime brokerage valued at $8 billion, before launching OpenFX.

Founder Insights

Prabhakar is a serial entrepreneur who has co-founded four companies, with two previous ventures acquired. He is also an angel investor in 10 startups focused on blockchain technology and fintech.

Experience

OpenFX raised $94 million in Series A funding from Accel, Atomico, Lightspeed, Northzone, and Pantera, following an initial $23 million seed round. The company grew from $4 billion to over $45 billion in annualized payment volume within its first year.

Scale & Impact

OpenFX serves major clients including MoneyGram, Yellow Card, and alfred, with 98% of transactions settling in under 60 minutes compared to the industry standard of 2 to 7 days. The platform supports over 40 trading pairs across the US, UK, UAE, and India.

About

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