HanzePay

What HanzePay does

HanzePay B.V. is a privately held Dutch fintech (Besloten Vennootschap, registered in the Netherlands under company number 84599200) headquartered in Zwolle, Overijssel. Founded in 2021 and operating with a team of 11-50 employees, the company positions itself as an FX broker and currency management partner for Dutch, Benelux and German SMBs (MKB) and private clients — a segment it argues has been deprioritised by traditional banks. Its stated scale metrics include 300+ customers across 30 countries (180+ countries referenced on the business page), €1 billion in cumulative transactions processed, and support for approximately 31 currencies. CEO Marcel Drenth leads the firm.

The product surface comprises a free multi-currency IBAN account (with local payment account numbers for the US, UK and EU and SWIFT/BIC connectivity enabling receipt of payments in 30+ currencies), self-serve spot FX execution at a pre-agreed fixed-rate margin, platform-bookable forward contracts requiring a 3-10% deposit, and customised hedging strategies co-designed with the customer (including 1:1 Hedging Masterclass sessions). The customer-facing platform is the Alt21 white-label portal (hanzepay.alt21.com), with regulated e-money and payment rails provided by CurrencyCloud B.V. for the EEA (De Nederlandsche Bank EMI, R142701) and The Currency Cloud Limited for the UK (FCA FRN 900199), US payment services via Visa Global Services Inc. (NMLS ID 181032), and FX execution via Assure Hedge (UK) Limited (FCA FRN 783837). HubSpot is used as CRM and marketing automation.

HanzePay's business model is transaction-fee / usage-based: revenue is generated from the FX spread on spot conversions, the rate margin embedded in forward contracts, and (implicitly) the deposit float on forward positions, while the underlying multi-currency account is offered free of charge. Pricing is not publicly listed; margins are agreed with each customer in advance, with sales delivered via in-house Account Managers, FX Dealers, and regional Heads of Sales (BeNeLux and Germany), supplemented by self-serve online onboarding, phone/WhatsApp/email, Calendly meeting booking, and a chatbot. The customer base is highly distributed (300+ SMB/private clients) and supported in Dutch, English and German. Two funding rounds have been disclosed: $483,151 on 2024-07-01 and $579,117 on 2026-03-24 (investors undisclosed), with no acquisitions, leadership changes, or public listing activity in the source material.

Name

HanzePay

Legal name

HanzePay B.V.

Website

https://hanzepay.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

HanzePay B.V. is a Zwolle-based Dutch fintech (2021) that provides foreign exchange services, multi-currency IBAN accounts, spot FX, forward contracts, and custom hedging strategies to 300+ SMB and private clients across 30 countries, monetising via FX spreads on a free-account, transaction-based model.

Ownership category

akta.pro rank

Product category

Foreign Exchange & Multi-Currency Banking Services

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Commodity Contracts Intermediation (52316)

SIC

Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)

Keywords

• Foreign exchange services
• Multi-currency accounts
• International business payments
• FX forward contracts
• Currency hedging strategies

Headquarters

HQ city

Zwolle

HQ country

Netherlands

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. FX spread on spot transactions: Revenue is generated by the margin (spread) between the wholesale FX rate and the customer rate on each spot currency conversion, with the margin discussed in advance and applied as a fixed rate margin on real-time market access.
2. FX spread / margin on forward contracts: Revenue captured on the rate margin when locking forward contracts for customers; customers must place a 3-10% deposit (per the English page) or 3-5% (per the German page) to book the contract, with the spread embedded in the locked forward rate.
3. Free multi-currency account, monetised via FX activity: The multi-currency account is provided free of charge; monetisation occurs through the FX activity (spot, forward, conversions) routed through that account, effectively a usage/transaction-based model on top of a freemium-style account offering.

Pricing tiers

Go-to-market motion4 records

Distribution channels5 records

Marketing channels9 records

Core offering

HanzePay is a Dutch currency broker (valutabroker) that provides foreign exchange services to European SMBs (MKB) and private clients. Its core products are a free multi-currency IBAN account supporting 30+ currencies, real-time spot FX transactions, bookable forward contracts to hedge currency exposure, and tailor-made hedging strategies. The offering is delivered via the Alt21 client portal with regulated payment and FX rails provided by CurrencyCloud, The Currency Cloud Limited, Visa Global Services Inc. and Assure Hedge.

Differentiator

Problem solved

Functional benefit

Products and services

• Multi-currency account (Multi-valutarekening) Free multi-currency IBAN account in the customer's own name with associated SWIFT/BIC, enabling receipt of payments in 30+ currencies and providing local payment account numbers for the US, UK and EU, for European SMBs and private clients.
• Spot transaction (Spottransactie) Online self-serve spot currency conversion where customers specify the currency pair, amount and desired conversion date, lock in the spot rate at a pre-agreed fixed margin and have the international payment executed typically the same working day, for SMBs and private clients with cross-border payment needs.
• Forward contract (Termijncontract) Platform-native forward contracts that lock an exchange rate for a specified amount and period to protect against currency fluctuations, requiring a 3-10% deposit (3-5% per the German page) depending on currency and contract size, with customised contract size and term.
• Customised hedging strategy (Hedging / Valutarisico afdekken) Tailor-made hedging strategies developed jointly with the customer to manage currency exposure, minimise uncertainty in international transactions and optimise the currency portfolio against business goals and risk appetite, delivered via 1:1 sessions with the owner and the dealing team.

Quantifiable outcome

• 300+ customers served across 30 countries (per German and English homepages)
• +4 more outcomes

Named customers3 records

Segments1 record

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature6 records

Partnerships

Six partnerships are on record, tiered core / flagship regulated partner, core / flagship regulated partner for u.s., core / flagship fx execution partner, core / flagship platform partner and supporting operational partner.

• CurrencyCloud B.V.core / flagship regulated partnerTechnology or IntegrationCurrencyCloud B.V. (Dutch Chamber of Commerce 72186178; registered office Mr. Treublaan 7, 1097 DP, Amsterdam) is licensed and regulated by De Nederlandsche Bank as an Electronic Money Institution (Relation Number: R142701). For clients based in the European Economic Area, CurrencyCloud B.V. issues e-money and provides related payment services on behalf of HanzePay B.V., forming the regulated payment and account infrastructure behind HanzePay's multi-currency offering.
• The Currency Cloud Limitedcore / flagship regulated partnerTechnology or IntegrationThe Currency Cloud Limited (registered in England No. 06323311; registered office 1 Sheldon Square, London, W2 6TT, UK) is authorised by the UK Financial Conduct Authority under the Electronic Money Regulations 2011 for issuing of electronic money (FRN: 900199). It provides payment and e-money services for HanzePay, supporting UK customer accounts alongside the EEA CurrencyCloud B.V. relationship.
• Visa Global Services Inc. (VGSI)core / flagship regulated partner for u.s.Technology or IntegrationVGSI is a licensed money transmitter (NMLS ID 181032), licensed as a money transmitter by the New York Department of Financial Services, an MSB registered with FinCEN and a registered Foreign MSB with FINTRAC (mailing address 900 Metro Center Blvd, Mailstop 1Z, Foster City, CA 94404). It provides payment services in the United States for HanzePay customers.
• Assure Hedge (UK) Limitedcore / flagship fx execution partnerTechnology or IntegrationAssure Hedge (UK) Limited (company registered in England and Wales No. 10723112; registered address 45 Eagle Street, London WC1R 4FS) is authorised and regulated by the UK Financial Conduct Authority (firm reference number 783837). Foreign exchange services for HanzePay are provided by Assure Hedge, supplying the regulated FX execution layer for spot, forward and hedging transactions.
• ALT21core / flagship platform partnerTechnology or IntegrationALT21 is the technology platform provider behind HanzePay's customer-facing portal. HanzePay customers register, log in and onboard via hanzepay.alt21.com (with an EU instance at hanzepay.eu.alt21.com), and the platform is deeply integrated into the website navigation, CTA buttons, and account opening flow across NL/EN/DE sites.
• HubSpotsupporting operational partnerTechnology or IntegrationHubSpot is used as HanzePay's CRM and marketing platform, referenced explicitly in the Sales and Marketing intern job descriptions ('you keep our CRM system (HubSpot) up-to-date'). It supports lead management, email and social outreach, and campaign analytics.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Wise (formerly TransferWise): Global multi-currency account and FX platform serving consumers and SMBs (Wise Business) with similar cross-border payments and currency holding use cases. A much larger, broader incumbent whose SME offering directly overlaps HanzePay's core proposition.
• Revolut Business: Multi-currency business accounts with built-in FX, international payments and (for higher tiers) hedging-like features. Competes for the same European SMB cross-border payments customer that HanzePay targets, but at much greater scale.
• WorldFirst (Ant Group): SMB-focused cross-border payments and multi-currency accounts, now part of Ant Group. Competes directly for European SMB cross-border payments and FX wallet share, but with much greater capital and global footprint.

Direct peers

• OFX: Established SMB-focused FX broker and international payments provider offering multi-currency accounts, spot FX and forward contracts. Closely comparable to HanzePay on product (spot + forwards + hedging) and target customer (SMBs with cross-border needs).
• iBanFirst: European SMB-focused FX and international payments platform providing multi-currency accounts and FX hedging. Closely comparable product set and customer segment, with similar positioning of 'alternative to banks' for European SMBs.
• Kantox: SMB and mid-market FX and payments specialist offering multi-currency wallets, spot and forward FX, and currency risk management. Near-direct peer in the European SMB FX and hedging space.
• Ebury: SMB and mid-market cross-border payments and FX provider (white-label CurrencyCloud reseller historically), offering multi-currency accounts and FX hedging. Highly comparable business model and customer base to HanzePay.

Emerging players

• Airwallex: Global multi-currency business accounts and FX platform targeting SMBs and mid-market with borderless accounts, FX and payments. Comparable product surface, broader geographic footprint, and rapidly expanding in Europe.

Others

• Currencycloud: Core regulated payment and e-money infrastructure partner of HanzePay (CurrencyCloud B.V. provides the EEA e-money rails). Adjacent participant: as a white-label B2B FX/payments platform it powers many similar SMB FX brokers, making it both a supplier and a structural competitor at the wholesale layer.

Regional players

• Conotoxia / Cinkciarz.pl: European online FX broker and multi-currency payment provider offering currency exchange, international payments and (in some markets) hedging-like services. Comparable product set, but primarily serves Poland/CEE rather than BeNeLux/DACH.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about HanzePay