Navro, a London-based fintech company specializing in simplifying international payments for businesses, has obtained its first money transmitter license in the US.
This Delaware license allows Navro to operate under full regulatory governance in the state, enabling US firms to access its payment curation platform. The technology addresses various challenges related to cross-border payments, such as high transaction costs and lengthy processing times associated with SWIFT.
Navro aims to provide access to top payment services through a single platform, one API, and one contract, alleviating the complexities of dealing with multiple providers, gateways, and local regulatory authorities.
Earlier this year, Navro raised $41 million in Series B funding and has already secured licenses in Canada and the European Union. The company is now targeting regions in Asia-Pacific and the Middle East.
CEO Aran Brown stated, “The Delaware approval underscores our commitment to obtaining licenses under strong regulatory guidelines. It also marks the beginning of our expansion efforts across the US.” He added, “We are strategically focused on ensuring that the gold-standard compliance we’ve built into our platform extends to every new region and relationship.”