London-based FinTech Navro has secured its first US money transmitter licence in Delaware.

A money transmitter licence is required for businesses that engage in transmitting money, such as issuing checks, drafts, money orders and other payments tools.

The approval allows Navro, which specialises in cross-border money transfers and real-time processing, to operate under full regulatory governance in the state, giving US firms access to its payments curation platform including payment instruments.

The company said it aims to simplify cross-border payments by offering a single platform, API, and contract, eliminating the need for businesses to navigate multiple providers and regulatory authorities.

The business aims to solve several cross-border payment challenges currently facing US firms, such as high transaction fees and long waiting times for Swift payments.

Chief executive Aran Brown emphasised that the Delaware approval is a step toward expanding Navro’s footprint across the US while maintaining high compliance standards.

"Strategically we are laser-focused on ensuring that the gold-standard compliance that we’ve built into our platform extends into every new region and relationship,” he added.

Between 2023 and 2024, Navro obtained licences in Canada and the European Union to expand its global payment offering.

In April, the company announced a $41 million Series B funding round.

The round was led by Jump Capital, with support from Bain Capital Ventures, Motive Partners and Unusual Ventures.

The firm said it would use the funding to expand its operations across the US, Dubai, Hong Kong, and India.

It added it will use the capital injection to boost its payments curation platform.

The FinTech’s growth plans also include integrating more than 30 digital wallets and real-time payment options.

“With this new capital, we’re expanding our licensing footprint, integrating faster payment methods, and growing our support for customers in regulated industries,” said Brown in a statement at the time.

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