New money transfer comparison site, moneytransfers.com, has secured significant investment from leading startup accelerator Kinetic Investments, allowing the startup to supersize its growth and further disrupt the growing currency transfer industry.
With over $530 billion transferred each year, the global remittance market is set to be worth $8.61 billion by 2025 -a hugely growing industry that moneytransfers.com is now ready to seriously disrupt. And, in the multicultural mecca that is the UK, nearly half (41%) of men and over a quarter (29%) of women are transferring money abroad, a rapidly growing marketthat moneytransfers.com is committed to helping.
There’s no doubt that our lives are becoming increasingly globalised and moneytransfers.com’s exciting new service, dedicated to providing customers with the most transparent, honest and fair comparisons in the market, now has the financial backing to really help customers make savings, whether it’s £100 or £10,000.
Boasting savings of up to 90% on currency conversion fees, moneytransfers.com could be the difference between customers sending enough money back home to keep the lights on and families getting the chance to save for their children’s education. The startup’s new investment will help to develop the business’ proprietary comparison technology and optimise its real time rate data on thousands of international pairings, arming customers with the best money transfer information for their specific circumstance.
Fresh investment breeds ambitious growth targets and moneytransfers.com has a robust strategy in place to revolutionise the market. The company is rapidly optimising its unique comparison technology and has future plans to leverage cutting edge technology to provide an ultra-sleek, more personalised service to customers.
Moneytransfers.com co-founder, Jonathan Merry, comments: “We’re absolutely delighted with the investment and the huge opportunity for growth that it presents. We want our customers to have a wallet to the world in their back pocket and are totally committed to providing the most transparent, honest and fair service for international money transfers. Watch this space!”
Kinetic Investments co-founder, Michael Charalambous, comments: “Moneytransfers.com is a fantastic new business and we’re thrilled to be involved in such an exciting new business’growth plans. The international money transfer market is booming right now and this business has the expertise and strategy to really make a difference.”