Navro adds Texas as its US payments map grows one license at a time

On 2 November 2026 Navro, the London payments firm founded in 2022 by Aran Brown and Eddie Harrison, said the Texas Department of Banking had granted it a money transmitter license. Texas becomes the fourth US jurisdiction where the company can move money under its own authorization, after Delaware, Washington DC and Florida.

Navro sells what it calls payments curation: a single platform, one API and one contract that route a business’s payouts across a network of banks and payment providers. It says it processes workforce payouts for more than 200 large corporations and runs international payments for 1,700 pension schemes, and that its statutory and tax service can settle deductions, statutory payments and reporting alongside salaries in 95 countries. Jump Capital led a $41m (£30.6m) Series B for the company in April 2025, with Bain Capital Ventures, Motive Partners and Unusual Ventures taking part.

“Securing our Texas licence is another important milestone in Navro’s US growth strategy,” Brown said in the announcement. “Texas is one of the largest economies in the country and a centre of commerce for fintech and digital assets organisations, so this gives our clients a compliant route into a market that matters enormously to their growth plans.”

The announcement’s case is that one contract now reaches one more large economy. The license record under it is slower. The US issues no single payments license: every state licenses money transmission on its own terms, and 17 months after its first state license Navro holds three of them plus the district. The pitch is one API. The geography is drawn one regulator at a time.

One authorization at home, one per state abroad

In its home markets the company has what a payments firm wants: a single authorization that covers a whole territory. Navro Payments Limited is authorized by the Financial Conduct Authority to issue electronic money, and Navro Payments Europe is authorized by the Central Bank of Ireland. In the US, Navro Payments USA is registered with the Treasury’s Financial Crimes Enforcement Network (FinCEN), and the company’s own small print says it holds money transmission licenses “in multiple states”. Registration is federal. The license to move money comes from each state, and Texas requires one under its Finance Code.

Delaware came first, reported by FStech on 10 June 2025. Washington DC followed in September 2025. The Texas release does not date the Florida license. Texas arrived on 2 November 2026. At the DC stage the company said, as The Fintech Times reported, that the application had gone through the Nationwide Multistate Licensing System, which lets it reuse due diligence material for later states. Four jurisdictions in 17 months is the pace that reuse has produced so far.

Texas sets out the entry price in its notice to applicants. The filing fee is $10,000 (£7,460), paid through the licensing system and non-refundable. An applicant with total assets of up to $100m must show tangible net worth of at least $100,000 (£74,600) or 3% of assets, whichever is greater, supported by audited financial statements for the latest financial year. The regulator may add investigation fees where an application takes longer than normal. The fee is small change for a company that raised $41m; the audited statements, the net worth test and the questions are the work, and they recur in every state.

The payroll platforms carrying the license

The businesses that feel the Texas license are not Navro’s direct clients so much as the employers behind them. On 30 April 2026 Multiplier, the employer of record and global payroll provider, launched Global Payroll Payments powered by Navro. Multiplier says it operates in more than 160 countries, processes $2bn (£1.49bn) of cross-border wages a year and expects that to reach $4.5bn (£3.36bn) by the end of 2026. Those are the company’s own figures.

On 12 May 2026 Strada, the payroll and people services group, agreed to embed Navro’s payment execution in its platform, covering salaries, statutory payments and third-party disbursements in 95 countries. Strada says it processes $1.4tn (£1.04tn) of payroll a year for more than 11 million employees in 180 countries. “Payroll is not complete until people are paid and taxes are remitted,” said Colin Brennan, chief executive of Strada, when the deal was announced.

For a mid-market employer that runs US staff or contractors through either platform, the Texas license is what makes a payout to an account in Houston or Austin lawful on Navro’s rails. The company’s case is that its route cuts the cost and the settlement time of moving money in and out of the US through SWIFT. Where Navro holds no license, that route is not one the platforms can offer.

The same sentence, one state later

Brown’s Texas statement is worth reading beside his last one. In September 2025, as The Fintech Times reported, he said: “Securing our D.C. licence is another important milestone in Navro’s US growth strategy.” Swap the jurisdiction and the sentence is the Texas quote. The template is honest about what the company is doing: counting milestones in a long series. Delaware, the district, Florida and Texas are four. The country has 50 states.

What the Texas license changes is narrow and real. Payees in one of the largest state economies can be paid through the platforms Multiplier and Strada have built on Navro, with a regulator’s name attached. What it does not change is the pace. At roughly one jurisdiction every four to six months, with the reuse of due diligence already built into that rate, the map Navro sells as one contract is likely to be drawn state by state for years, and each new state is likely to arrive with the same sentence attached.