• OpenFX appoints ex-CoinDCX AVP Sourav Karmakar as India Product Lead
• Startup strengthens leadership with new heads for trading, risk, and operations
• Move follows OpenFX’s $23M seed round led by Accel

OpenFX, a cross-border fintech infrastructure startup backed by Accel, has appointed former CoinDCX executive Sourav Karmakar to lead its India product operations. The company is expanding its leadership team as it accelerates growth in global B2B payments.

Karmakar will serve as the INR Product Lead, focusing on building OpenFX’s INR-based payment rails for international business transactions. His role includes developing new infrastructure for cross-border settlements and driving the company’s India strategy. Before joining OpenFX, he worked as India AVP Product at CoinDCX and held roles at WhiteHat Jr, Vedantu, DocsApp-MediBuddy, and Koo, giving him broad experience across fintech and consumer internet businesses.

Alongside Karmakar’s appointment, OpenFX has added two more leaders, Alex Rowles as Head of Trading and Risk, and Ethan Mackie as Head of Product Operations. Founder and CEO Prabhakar Reddy said in a LinkedIn post that the company is also hiring across engineering, product, and operations as it scales its platform.

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OpenFX, created by Reddy, who previously co-founded FalconX, is building a real-time FX network designed to offer near-instant cross-border transfers. The platform claims to process transactions 99% faster and up to 90% cheaper than traditional methods, operating continuously without the limitations of banking hours or holidays.

The new leadership appointments come six months after OpenFX raised $23 million in seed funding led by Accel, with participation from NFX, Lightspeed Faction, Castle Island Ventures, and others. At the time, the startup had a 42 member global team spread across the US, UK, UAE, and India.

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