Frex, a global peer-to-peer payments platform, has raised ₹9.5 crore in a pre-seed funding round co-led by Zeropearl VC and White Venture Capital.
The round also saw participation from a strong group of strategic angels, including Abhiraj Singh Bhal, Varun Khaitan and Raghav Chandra of Urban Company, Pradeep Parameswaran, Global Head of Mobility at Uber, Kunal Shah, Founder of Cred, and Rishabh Goel, Founder of Credgenics.
The fresh funds raised will be used to expand its on and off-ramp infrastructure across North America and India, strengthen the compliance and regulatory stack across key corridors, scale engineering and ledger systems to support high-volume transactions, and accelerate go-to-market efforts in NRI and migrant worker communities.
Founded in 2025 by Aditya Varma, Himanshu Arora and Nikhil Shanker, Frex is a global peer-to-peer payments platform that enables immigrants and global workers to send money home instantly and at ultra-low cost.
The platform offers better than mid-market exchange rates with near real-time settlement and zero fees, positioning itself as a modern alternative to traditional remittance channels that are often slow, expensive and opaque.
Since its launch in November, Frex claims it has seen rising transaction volumes and rapid adoption among immigrant communities, and the company expects to cross $1 million in monthly transfers within the next two to three months.
Aditya Varma, Founder and Chief Executive Officer of Frex, said, “Cross-border payments remain one of the slowest and most expensive areas of financial services, and this burden falls directly on migrants and global workers. With more than two trillion dollars moving across borders every year, we see a massive opportunity to transform this experience end-to-end. We are glad to have White Venture Capital and Zero Pearl as partners as we build a platform that makes global money movement fast, fair and transparent.”
Bipin Shah, Managing Partner at Zeropearl VC, said, “India has one of the largest and most affluent global diasporas in the world. Despite being the largest recipient of personal remittances globally, there is no Desi platform that features among the top global remittance players today. We believe Frex is well-positioned to change this and build a category-defining global payments company from India.”
Sweta Rau, Founder and GP at White Venture Capital, said, “Frex is addressing a real and urgent need in cross-border payments by putting speed, transparency and affordability at the centre of the experience. The founding team brings strong execution capability and deep market understanding. We are excited to support their journey as they build a globally scalable remittance platform from India.”
