Capital raising for cross border payments platform
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About this business
In the broker's words
Full description, as written by the brokerCapital raising for cross border payments platform
This company has a complete platform and apps for iPhone and
Android.
It also has banking and money licensing to 85 countries.
At launch, this reach will make it a Top 20 company globally for
money transfers.
It can service around 60% of the total money transfer market,
which is $600B. There is no dominant brand in this space.
A natural extension is the travel money industry. This is a $5.81
trillion market. Currently, this market is almost completely card
based, with all it's vulnerabilities.
This platform allows customers to 1) keep their financial
information hidden whilst making payments, and 2) use their phone
instead of trusting a foreign ATM or merchant terminal.
This is ideal
for travellers.
All at competitive prices.
Seed round has been completed. Now we're looking for funding to
launch with 2 years runway.
Once established, we will obtain our own EMI (Electronic Money
Institutional) license, and expand by opening more countries under
our own 'banner'.
In total they are looking for $900,000 AUD which will buy a 12% stake. The company is registered in The UK and they applied for SEIS which gives UK tax payers a huge advantage.
John Mc Nabb
Key facts
- Business type
- Finance
Location
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