Peer-to-peer payments platform Frex raises Rs 9.5 crore from Zeropearl VC, others

Frex, a peer-to-peer payments platform focused on simplifying international money transfers for immigrants, has raised Rs 9.5 crore in a pre-seed funding round jointly led by Zeropearl VC and White Venture Capital.

The round included participation from several strategic angel investors such as Abhiraj Singh Bhal, Varun Khaitan and Raghav Chandra of Urban Company, Pradeep Parameswaran of Uber, Kunal Shah of Cred and Rishabh Goel of Credgenics.

Co-founded in 2025 by Aditya Varma, Himanshu Arora and Nikhil Shanker, Frex enables immigrants and global workers to send money home instantly and at ultra low cost. The platform offers exchange rates with near real time settlement and zero fees. It uses modern blockchain infrastructure combined with strict compliance processes and local banking integrations to deliver faster settlement and transparent pricing across major remittance corridors.

The startup will use the raised capital to expand its on and off ramp infrastructure across North America and India, strengthen the compliance and regulatory stack, scale engineering and ledger systems to support high volume transactions and accelerate go to market efforts among NRI and migrant worker communities.

Aditya Varma, Founder and CEO 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 in a statement, “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.”