MillTech lands $60M growth round from Apax Digital
MillTech, a fast-growing provider of automated FX treasury technology, has raised $60 million in fresh funding from growth equity investor Apax Digital, valuing the company at $325 million. The capital will be used to scale its product, expand internationally and deepen its technology stack for corporate finance teams.
Automating FX risk for global finance teams
MillTech develops software that helps multinational companies manage foreign-exchange (FX) risk, liquidity and cash positions across multiple currencies. Its platform integrates with existing ERP and treasury management systems, using rules-based workflows and advanced data analytics to automate hedging decisions, exposure tracking and compliance reporting.
By replacing spreadsheets and manual processes, MillTech aims to reduce operational errors, improve visibility over global cash flows and support more disciplined risk management in volatile currency markets. The company says its tools can shorten hedging cycles from days to minutes and provide near real-time dashboards for CFOs and group treasurers.
Apax Digital backs expansion and product roadmap
The investment from Apax Digital, the growth arm of private equity firm Apax Partners, signals rising investor interest in specialist fintech infrastructure for corporate finance. The new funding will support hiring in engineering, sales and customer success, as well as new product modules focused on automated hedging strategies, regulatory reporting and deeper bank connectivity.
Industry observers note that persistent FX volatility, tighter liquidity conditions and stricter reporting standards are forcing mid-market and large enterprises to modernise their treasury stacks. Vendors like MillTech are positioning themselves as critical infrastructure as companies seek to centralise data, standardise processes and gain better control over cross-border cash.
Competitive landscape and market outlook
The automated treasury segment is increasingly competitive, with banks, legacy treasury management system providers and new fintech entrants all vying for market share. MillTech is betting that a cloud-native architecture, rapid implementation and strong analytics will differentiate it from older platforms.
With this latest round, the company is expected to accelerate partnerships with global banks and payment providers, broaden its customer base beyond early adopters and push further into regions where FX risk is a daily concern for exporters, importers and high-growth technology firms.