FINTEX Interview with Sebastian Seitz, CEO of GIROXX

GIROXX GmbH provides cross-border and SEPA payment services to European SMEs, helping them reduce banking fees and gain access to better FX rates. Positioned between traditional banks and large FX aggregators, GIROXX offers a nimble, regulated alternative for businesses transacting in and out of the Eurozone.

We sat down with Sebastian Seitz, co-founder and CEO of GIROXX, to explore how the company has grown within Germany’s tight regulatory framework, what it offers SMEs, and how it competes with both banks and neobanks in the B2B FX and SEPA market.

Who is Sebastian Seitz?

Sebastian Seitz is a German fintech entrepreneur with a banking background. Before co-founding GIROXX in 2015, he held senior roles in FX trading, payments, and SME finance. With GIROXX, he leverages this experience to modernize B2B international payments in Europe — with full regulatory oversight from BaFin.

Interview

What is GIROXX in one sentence?
A regulated, German-based fintech offering affordable and fast international payments and currency exchange for businesses.

What specific problem are you solving?
Banks charge SMEs far too much for cross-border and FX payments. GIROXX offers lower costs, transparent rates, and fast execution, all under one platform.

Who are your core clients?
Mostly German and Austrian SMEs, exporters, and importers with recurring international payments. Many are underserved by banks or need better FX control.

What services do you offer?

SEPA & SEPA Instant transfers
SWIFT international payments
Real-time FX exchange at competitive rates
Multi-currency payment routing
Custom payment file integration (CSV, XML)
Batch payments for payroll/invoices

How are you licensed?
We are a BaFin-regulated payment institution (Zahlungsinstitut) with EU passporting rights and a SWIFT/BIC registration.

How do you differentiate from banks?
Faster onboarding, better FX rates, lower fees, and responsive support. We’re not a bank — we’re specialists in international payments.

Do you offer an API?
Yes, GIROXX provides API access for ERP/payroll/payment automation. We also support file-based uploads (e.g., ISO20022).

Do you offer business IBANs?
Yes, all clients receive dedicated DE IBANs (German), with SEPA Instant support.

What currencies do you support?
We support 35+ currencies for SWIFT payouts including USD, GBP, CHF, PLN, CZK, SEK, and more — with real-time FX.

How do you set FX rates?
Rates are shown live on the platform, based on mid-market interbank rates with a transparent markup based on volume and client tier.

Is GIROXX profitable?
Yes, since 2019. We are a lean, self-financed company with strong recurring B2B flows.

What are your main competitors?
Wise Business, Western Union Business, Kantox, and even banks like Deutsche Bank — although few match our niche focus or responsiveness.

What makes GIROXX attractive to German businesses?
Local service, BaFin regulation, German IBANs, and compliant invoicing and documentation.

How do you manage compliance and AML?
We follow strict German AML rules, including KYC/KYB onboarding, monitoring, and SAR reporting. All clients are business entities, not individuals.

What tech stack powers your platform?
Built in-house with Java-based backend, PostgreSQL, and secure cloud infrastructure hosted in Germany. Fully GDPR-compliant.

What trends are you seeing in cross-border B2B payments?
More demand for transparency, speed (SEPA Instant, SWIFT gpi), and integration into business workflows.

Are you expanding into new markets?
Yes. We’re targeting the Netherlands, Belgium, and Poland for 2025, via EU passporting.

How does GIROXX handle customer support?
We offer direct human support via email and phone — in German and English — with no chatbots or tiered delays.

What KPIs are most critical to you?
FX volume, number of active clients, payment success rate, and NPS. We also track margin per payment and client retention.

What’s your vision for GIROXX in 2025 and beyond?
To be the preferred FX and SEPA provider for mid-sized businesses in the DACH region — combining trust, tech, and cost savings.

FAQ

Is GIROXX a bank?
No, GIROXX is a licensed payment institution regulated by BaFin. We do not hold deposits or offer loans.

Can non-German companies use GIROXX?
Yes, companies incorporated in the EU/EEA can onboard and receive DE IBANs and FX payments.

Do you support SEPA Instant?
Yes, SEPA Instant is supported for both incoming and outgoing EUR payments.

Can I automate payouts?
Yes, via API or file-based uploads. Many clients automate payroll, supplier payments, and FX settlements.

Is there a minimum volume to use GIROXX?
We work best with companies doing at least €20,000/month in cross-border or FX payments.

Company Services

SEPA / SEPA Instant payments
SWIFT international transfers
EUR, USD, GBP, and multi-currency payouts
FX rate optimization and hedging
German IBAN issuing
API & ERP integration
Regulatory-compliant B2B onboarding

Competitors

Wise Business – Very strong UX but lacks German IBANs
Western Union Business – Global reach, but higher fees
Deutsche Bank FX – Trusted brand, but slow onboarding
Kantox – Strong hedging tools, but not for smaller SMEs
LianLian Pay – Asian coverage, less relevant for EU SMEs

Product Positioning

GIROXX is positioned as:

A German-regulated payments platform for SMEs
Focused on SEPA, SWIFT, and FX transparency
Ideal for EU-based importers/exporters
A tech-light, trust-heavy partner for B2B finance teams
Built on German infrastructure with real compliance

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Interview with Sebastian Seitz, CEO of GIROXX