Freemarket raises Growth Capital Investment from Baird Capital

Freemarket, a West Hill portfolio company and leading fintech platform for regulated B2B cross-border payments and currency exchange, recently announced a growth capital investment from Baird Capital’s Global Private Equity Fund. 

The investment supports Freemarket’s continuing fast growth and international expansion, as well as providing a profitable partial cash-out for West Hill investors. Financial details of the transaction were not disclosed.

Freemarket provides its corporate customers with cross border payments through its proprietary technology platform. The company’s substantial network over 100 countries and across 140 currencies enables customers to send payments efficiently, removing complexities and improving transparency. 

Freemarket has delivered impressive growth since West Hill identified the Company’s substantial potential and investors acquired EIS equity in a funding round that completed in 2020. In 2022, the company was ranked #12 in the Sunday Times Hundred* and #25 in the Deloitte Technology Fast 50 program which celebrates and champions the UK’s fastest-growing technology businesses. In 2023, Freemarket ranked #81 in the FT1000:  Europe’s Fastest Growing Companies, achieving triple-digit revenue growth in consecutive years.

Freemarket CEO, Alex Hunn, commented:

“We are delighted to partner with Baird Capital at this exciting stage in Freemarket’s growth journey.

Baird Capital’s partnership approach, international capabilities, Financial Services sector expertise and cultural alignment made them the obvious partner for us and our clients.”

Baird Capital’s Private Equity Team commented:

“Freemarket is a high growth business with a differentiated technology platform operating in a large and resilient global market. 

The business has many potential growth avenues, and we are delighted to be selected as Freemarket’s investment partner.”