- Canadian Approval: Navro, formerly Paytrix, has secured a Foreign Money Services Business (FMSB) registration in Canada, enabling it to offer money transfer services to businesses.
- Innovative Platform: The company’s Payments Curation Platform supports payouts in over 130 currencies, real-time and same-day payments in 60+ regions, and operates 24/7.
- Funding Milestones: Navro raised $14 million in February 2023, led by Bain Capital and Unusual Ventures, complementing an $18.3 million Series A round in March.
- Regulatory Success: This Canadian approval follows Navro’s EU and UK Electronic Money Institution (EMI) licenses obtained earlier this year.
- Future Plans: Navro is applying for a license under Canada’s Retail Payments Activity Act to further expand its operational footprint in the country.
Navro Expands Global Reach with Canadian FMSB Registration
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