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KnightsBridge Foreign Exchange

KnightsBridge Foreign Exchange

Knightsbridge Foreign Exchange or Knightsbridge FX is a Canadian foreign exchange company headquartered in Toronto, Ontario, that provides currency exchange services to customers across Canada.

History

Knightsbridge Foreign Exchange was founded in 2009 by Rahim Madhavji and another co-founder. Prior to founding Knightsbridge FX, Madhavji worked for TorQuest Partners, where he leveraged buyouts, expansion capital investments, and existing portfolio company investments.



On March 7, 2019, Rahim Madhavji appeared on season 13, episode 20 of Canadian Broadcasting Corporation’s Dragons’ Den reality television show, in which he made a deal with Arlene Dickinson and Michele Romanow for $1 million for a 30% stake in the company.



In 2013, Knightsbridge Foreign Exchange has been recognized by PROFIT HOT 50 among Canada’s Top New Growth Companies. Also, Knightsbridge Foreign Exchange was recognized by PROFIT 500 among Canada’s Top-Growing Companies in 2017 and GROWTH 500 in 2018.

Operations

Knightsbridge Foreign Exchange offers currency exchange services in North America. As of 2015, the company converted around $500 million in currency per year. The company is registered and regulated by FINTRAC, a Government of Canada agency. Knightsbridge FX exchanges a number of currencies for its Canadian clients. Knightsbridge Foreign Exchange primary banking partner is Bank of Montreal (BMO) and most of the client funds are held in segregated client trust accounts at the Bank of Montreal and are separate from company operating accounts.

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