Grain emerges from stealth with $50M to help any business hedge against FX volatility

Foreign exchange fluctuations can make or break a business that trades across borders, but trying to respond to that can be tricky if you’re anything smaller than the world’s largest enterprises. Today, a startup called Grain is emerging from stealth with a product it said will let finance teams from companies of any size better understand and be more responsive to FX changes with hedging transactions. It’s hitting the ground running with funding of more than $50 million and a processing volume (picked up while in stealth) of $1 billion+. To put that figure into perspective, that processing volume is a relative drop in the ocean: Grain estimates that there is more than $150 trillion in cross-border transactions annually. So it’s small, but it speaks to the potential of how Grain might grow. The funding is actually coming two tranches. A $33 million Series A that has just closed is led by Bain Capital Ventures, with previous backers Aleph, Vessey Ventures, and Hanaco Ventures particip ... Read full article.