Company Overview

Doctolib is Europe's leading health tech company, serving 550,000 healthcare professionals and nearly 100 million patients through a suite of AI technologies and assistants. As it expanded across Europe and beyond and increased its dollar spending with American tech suppliers for hosting and AI, Doctolib needed a more refined and automated approach to managing FX risk.

The FX Challenge

Because FX risk management lies outside Doctolib’s core business model, the company lacked the in-house specialization needed to formulate and execute a subtle, sophisticated currency hedging strategy. Managing exposures internally created major operational bottlenecks across the finance workflow:

Some of the operational pain points included:

• Manual & Resource-Heavy Operations: Hedging processes relied heavily on manual intervention, driving up operational overhead and consuming valuable team time.
• Lack of In-House FX Specialization: Without an internal team of FX specialists, developing a refined hedging strategy tailored to company risk exposure was difficult to execute independently.
• High Operational Costs: Processing exposure manually proved expensive and inefficient relative to the core technology focus of the business.

The Kantox Solution

Doctolib selected Kantox not only for its software platform, but for the advisory and strategic guidance delivered alongside technology. Deployed in collaboration with Doctolib’s primary banking partner, BNP Paribas, Kantox delivered an end-to-end operational setup:

• Kantox Dynamic Hedging®: Implemented to hedge currency exposure in real time, synchronizing currency management with Doctolib’s actual business operations.
• IFRS 9 Automation: Streamlined and automated accounting treatment from execution through financial reporting, creating a fully frictionless, compliant workflow.
• Bank-Integrated Partnership: Delivered smoothly through Doctolib’s existing relationship with BNP Paribas, combining banking infrastructure with currency automation.

"Our choice fell not only on a technological solution, but also on high-quality human support, which allowed us to benefit from the expertise of a group like BNP Paribas and Kantox in particular, as closely as possible to our needs." — Pierre Vergnes, CFO

Benefits

The implementation of Kantox has improved Doctolib's approach to FX risk management through:

• Margin Protection: Secured stronger protection of operational and profit margins against currency volatility.
• Optimized Forward Points: Improved financial outcomes through systematic optimization of forward points and economic gains.
• Compliant Accounting: Automated end-to-end IFRS 9 hedge accounting treatment without operational friction.
• Headcount Efficiency: Eliminated the necessity and overhead of recruiting, training, and maintaining a dedicated internal team of FX specialists.
• Strategic Advisory: Benefited from tailored guidance on risk exposure and execution strategy provided jointly by Kantox and BNP Paribas.
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Looking Ahead

Doctolib and Kantox continue to work in close alignment, combining Kantox Dynamic Hedging® with ongoing advisory support to ensure currency execution remains finely tuned as international operations and tech investments evolve.

Ready to Automate Your FX Management & Protect Your Margins?

Contact Kantox today to learn how our solutions can be tailored to your business needs.