CurrencyTransfer.com

CurrencyTransfer.com was founded in February 2014 in London by Daniel Abrahams and Stevan Litobac.{{cite web | url=https://www.wired.co.uk/news/archive/2014-03/21/startup-of-the-week-currency-transfer | title=Startup of the Week: CurrencyTransfer | publisher=wired.co.uk | date=March 21, 2014 | accessdate=August 13, 2015}}{{cite web | url=http://www.techradar.com/news/software/business-software/how-currencytransfer-com-is-simplifying-business-foreign-exchange-1234246 | title=How CurrencyTransfer.com is simplifying business foreign exchange | publisher=Tech Radar | date=March 15, 2014 | accessdate=August 13, 2015 | author=Athow, Désiré}} The initial idea for the company came from the personal pain of the co-founders when making international money transfers. Abrahams was studying in Australia and Litobac was travelling around Europe. They both observed hidden fees involved in international currency exchanges and the lack of competitive alternatives available.{{cite web | url=http://startups.co.uk/currencytransfer-com-daniel-abrahams/ | title=CurrencyTransfer.com: Daniel Abrahams | publisher=startups.co.uk | date=February 25, 2015 | accessdate=August 14, 2015 | author=Wayment, Lucy}} Both co-founders were, independently of each other, in need to make currency exchanges.{{cite web | url=http://www.superbcrew.com/startup-currencytransfer-revolutionise-corporate-foreign-exchange/ | title=Startup CurrencyTransfer – Revolutionize Corporate Foreign Exchange | publisher=SuperbCrew.com | date=July 24, 2014 | accessdate=August 15, 2015}} After meeting through a website that matches technology and commercial talent, they saw an opportunity to build a disruptive marketplace, and provide transparency and customer choice to the $21 trillion market of cross-border transactions.{{cite web | url=http://www.businesszone.co.uk/on-a-mission-to-disrupt-foreign-exchange | title=On a mission to disrupt foreign exchange | date=April 4, 2014 | accessdate=August 15, 2015 | author=Mitchell, Lucie }}{{Dead link|date=July 2020 |bot=InternetArchiveBot |fix-attempted=yes }}{{cite web | url=http://is4profit.com/business-blog/building-business-takes-two/ | title=Building a Business: It Takes Two | publisher=is4profit.com | date=April 2, 2014 | accessdate=August 16, 2015}} The company set up a Tel Aviv office at its early stages.{{cite web | url=http://www.thejc.com/business/business-features/116724/now-that%E2%80%99s-what-we-call-exchange | title=Now that's what we call an exchange | publisher=The Jewish Chronicle | date=March 20, 2014 | accessdate=August 15, 2015 | author=Easterman, Daniel}}

CurrencyTransfer.com was present at the 2014 Finovate Europe, the world's leading demo based conference for fintech companies.{{cite web | url=http://finovate.com/videos/finovateeurope-2014-currencytransfer/ | title=FinovateEurope 2014 / CurrencyTransfer.com | publisher=Finovate | accessdate=August 14, 2015}} For the 2014 SWIFT Innotribe competition, after reaching Europe's final 15 out of a total of 280 companies, the company was chosen for the global final that included a total of nine startups.{{cite web | url=http://www.bankingtech.com/216292/swift-innotribe-startup-challenge-names-european-semi-finalists/ | title=Swift Innotribe Startup Challenge names European semi-finalists | publisher=Bankingtech.com | date=April 10, 2014 | accessdate=August 15, 2015 | author=Holley, Elliott}}{{cite web | url=http://innotribe.com/2014-startup-challenge/grand-finale/ | title=Grand Finale 2014 | publisher=Innotribe | accessdate=August 15, 2015}} At its initial stages, CurrencyTransfer.com was self-funded but later on it received funding by angel investors, including Errol Damelin among others.{{cite web | url=http://bankinnovation.net/2015/07/currencytransfer-prepares-major-funding-round/ | title=CurrencyTransfer.com Prepares Major Funding Round | publisher=BankInnovation.com | date=July 24, 2015 | accessdate=August 15, 2015 | author=Ryan, Philip}} A funding round was prepared for late 2015 to facilitate the company's further growth.

CurrencyTransfer.com is an online foreign exchange aggregator, which offers live exchange rates and gives its users the ability to book their transfers.{{cite web | url=https://www.telegraph.co.uk/finance/personalfinance/expat-money/11520554/How-do-you-choose-the-right-currency-service.html | title=How do you choose the right currency service? | publisher=The Telegraph | date=April 23, 2015 | accessdate=August 15, 2015 | author=Beugge, Charlotte}} Through its online marketplace, CurrencyTransfer.com, the company offers real-time a foreign exchange price feed. Foreign exchange brokers offer live exchange prices live, taking into account competition prices, giving its clients the opportunity to achieve better rates. The company states that brokers are required to be accredited as Authorised Payment Institutions by the Financial Services Authority and to have the ability to stream exchange rates live, in order to be included in the marketplace.{{cite web | url=https://www.currencytransfer.com/faq/not-whole-market-comparison | title=Why have you chosen not to be whole of market comparison? | accessdate=August 16, 2015 | author=Abrahams, Daniel}}

Company co-founder Daniel Abrahams has stated his vision for the site to become the "Expedia of business foreign exchange". CurrencyTransfer.com aims to give forex services, which are long available for larger companies, to small and medium-sized enterprises. The company has also launched two sister websites: MyTravelMoney.co.uk for holiday money and MyCurrencyTransfer.com for emigration and overseas property. The minimum transfer amount in the marketplace is £5,000, while the company claims an average transfer size of approximately £29,000. CurrencyTransfer.com has handled transactions worth $500 million up to January 2015.{{cite web | url=http://www.thejc.com/business/business-features/127913/the-15-faces-watch-2015 | title=The 15 faces to watch in 2015 | publisher=The Jewish Chronicle | date=January 8, 2015 | accessdate=August 15, 2015 | author=Malin, Angelica}}

{{reflist|30em}}

• [https://www.currencytransfer.com Currencytransfer.com website]

Category:2014 establishments in England

Category:Companies based in the City of Westminster

Category:Financial services companies based in London