Alpha FX Group plc

What Alpha FX Group plc does

Alpha FX Group plc, operating as Alpha Group International plc, is a London-headquartered corporate foreign exchange broker founded in 2009. The company serves mid-size to large corporates and financial institutions, delivering a bundled suite of cash and risk management solutions that includes FX risk management, currency management, interest rate hedging, global accounts, mass payments, multi-bank connectivity and fund finance. Alpha explicitly positions itself as 'half fintech, half consultancy,' combining relationship-led advisory with proprietary online platforms — the client.alpha.co.uk FX Risk Management portal, the portal.alpha.co.uk Alternative Banking portal, and a rates.alphafx.co.uk live interbank rates feed — alongside a Developer Hub at docs.alphagroup.com for API integration. Multi-bank orchestration is delivered through a partnership with Cobase, supported by 100+ correspondent banks and execution venues that include Barclays, Lloyds, Nomura, Citi, Goldman Sachs and Macquarie.

The firm operates across 30 international offices in major financial centres (London headquarters plus Amsterdam, Luxembourg, Munich, Madrid, Malta, Milan, Toronto and Sydney), holds multi-jurisdictional regulatory authorisations (FCA authorised and regulated including EMI status, MFSA in Malta, ASIC in Australia, FINTRAC and Revenu Quebec in Canada), and processes transactions to 200+ countries in 145+ currencies with full client-fund safeguarding under E-Money Regulations. Revenue is generated primarily through FX transaction spreads — pricing is individualised per client based on volume, frequency, direction, credit risk, cost of capital and liquidity — with a secondary stream from electronic money and payment services. Distribution is enterprise field sales plus self-serve client portals; no third-party resellers are used.

Alpha Group International plc is publicly listed on the AIM Market of the London Stock Exchange and is a wholly-owned subsidiary of Corpay, Inc. (NYSE: CPAY), a Fortune 1000 and S&P 500 constituent. In 2024 Alpha rebranded to align with Corpay's cross-border solutions identity, consolidating its identity within the parent's broader cross-border payments footprint. The company is led by founder and CEO Morgan Tillbrook and reports over 450 employees globally, with the majority based in London.

Name

Alpha FX Group plc

Legal name

Alpha Group International plc

Website

https://alphafx.co.uk

Company type

Public

Founded year

2009

Operating status

Operating

Headcount range

251–500 employees

Short description

Alpha FX Group plc (Alpha Group International plc) is a London-headquartered corporate FX broker providing FX risk management, currency management, payments and multi-bank connectivity to mid-size and large corporates and institutions across 50+ countries, operating as a wholly-owned subsidiary of Corpay, Inc.

Ownership category

akta.pro rank

Product category

Corporate Foreign Exchange Services

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Multibank FX Trading Platforms (FSAFADAC)

akta.pro secondary industries

Cross-Border & FX Payments Platforms (BPAMAFAK), FX Conversion, Pricing & Hedging Infrastructure (Treasury/Rate Engines) (FSAGAKAG), FX Matching & Aggregation Venues (Liquidity Aggregators) (FSAFADAH)

Keywords

• Corporate FX risk management
• Foreign exchange hedging
• Multi-currency business accounts
• Cross-border mass payments
• Currency management services

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices10 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Supply Chain

Revenue model

1. FX Transaction Revenue: Revenue generated from foreign exchange transactions, including spreads between interbank rates and client execution prices. The sales margin is determined by factors including service level, credit risk, cost of capital, volumes traded, and market liquidity.
2. Electronic Money and Payment Services: Revenue from providing electronic money issuance and payment services under FCA Authorised Electronic Money Institution status. Funds are safeguarded and Alpha earns revenue from transaction processing.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Alpha FX Group plc provides corporate foreign exchange risk management, multi-currency banking, cross-border mass payments, and currency management services to mid-size and large corporates and institutions across 50+ countries. The firm combines proprietary fintech platforms (client.alpha.co.uk and portal.alpha.co.uk) with human advisory to deliver FX hedging, international payments, global accounts, and fund finance, executing across 100+ correspondent banks and trading venues in 145+ currencies.

Product overview

Alpha FX Group plc is a financial services firm that combines fintech technology with consultancy services to provide cash and risk management solutions for global corporates and institutions. The core product portfolio consists of FX Risk Management (client portal) and Alternative Banking (platform portal), supplemented by modules including Currency Management, Interest Rate Hedging, Global Accounts, Mass Payments, Multi-bank Connectivity, and Fund Finance. The company operates through subsidiaries Alpha FX Limited and Alpha FX Europe Limited, serving clients across 50+ countries with 30+ international offices. The company also provides a Developer Hub and Live Rates Feed API for technical integration.

Differentiator

Problem solved

Functional benefit

Brands

• Alpha FX Risk Management: FX risk management platform for corporates with client login at client.alpha.co.uk
• Alpha Alternative Banking
• Alpha Private Markets
• Cobase

Products and services

• FX Risk Management

Quantifiable outcome

• Funds fully safeguarded under E-Money Regulations - entire value protected vs £85,000 FSCS limit
• +1 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Scale indicators7 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Moneycorp: UK-based corporate and private FX specialist offering spot, forwards, multi-currency accounts and international payments to corporates and institutions; competes head-to-head with Alpha in mid-market FX risk management.
• Kantox: FX and currency risk management fintech focused on mid-market corporates, offering dynamic hedging and multi-currency accounts; overlaps directly with Alpha's FX risk management and currency management modules.
• Convera: Global business-to-business cross-border payments and FX provider (formerly Western Union Business Solutions) serving corporates and institutions with multi-currency accounts, hedging and mass payments — directly comparable offering to Alpha.
• OFX: Direct corporate FX and cross-border payments competitor serving mid-market and SMB clients globally with multi-currency accounts, hedging tools and dedicated relationship management — same customer profile and product mix as Alpha.
• WorldFirst: Ant Group-owned cross-border payments and FX provider for SMEs, corporates and online sellers with multi-currency accounts and mass payouts — direct competitor in the mid-market cross-border payments space.
• Ebury: Corporate FX and cross-border payments specialist (part of Santander) targeting mid-market and institutional clients with multi-currency accounts, FX hedging and trade finance — highly comparable client base and product set to Alpha.

Emerging players

• Wise Business: Fintech-led cross-border payments and multi-currency account provider pushing near-interbank pricing into the mid-market — emerging competitive threat to Alpha's spread-based revenue and mass payments product.
• Revolut Business: Digital business banking and FX platform offering multi-currency accounts, international payments and corporate cards; overlaps with Alpha's Alternative Banking and Global Accounts modules for SME and mid-market corporates.

Others

• Currencycloud: Visa-owned cross-border payments and FX infrastructure provider powering banks and fintechs with multi-currency wallets and FX conversion APIs; adjacent infrastructure peer to Alpha's Developer Hub and Cobase-style integrations.

Broad incumbents

• Corpay, Inc. NYSE-listed parent company (CPAY) of Alpha Group; operates a broad cross-border payments, corporate cards and spend management platform that fully encompasses Alpha's FX, payments and treasury capabilities at greater scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/alpha-fx

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries4 records

Funding overview

Funding rounds

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 Alpha FX Group plc