• FOUNDING YEAR: 2009
    LOCATION:
    United States
    REGION:
    Massachusetts
    Last Update:
    18 Oct, 2019

Description

FOCUS

PRODUCTS & SERVICES:
The company's cross-border platform accepts bank transfers, online banking, credit & debit cards, and claims to provide better exchange rates as compared to home-market banks and credit card providers. Once a user signs up, he/she can start a transfer process by selecting an institution, the amount in the institution's local currency, and selecting the payment method in the user's local currency. It also users to track the payment status.
REVENUE MODEL:
Viewable by subscribers only
MAIN CLIENTS:
MIT, Cornell, UTS & etc
EXISTING PARTNERSHIPS:
ECSI, Ellucian, Nelnet, Oracle, Sallie Mae, Digital River

PEOPLE

FOUNDERS:
Iker Marcaide
Board Members and Advisors:
Joseph Mercurio, Brad Williams, Ronald Martin, Antonio Pecora
NUMBER OF EMPLOYEES:
201-500
INVESTORS:
Temasek, Bain Capital Ventures, FPrime Capital Partners, Spark Capital, Accel Partners, QED Investors, Maveron, Kibo Ventures, Boston Seed Capital, Project 11 Ventures, JME Venture Capital, RIESE & OTHERS, and 500 Startups.
KEY EMPLOYEES:
Mike Massaro (CEO)

TRACTION

VALUATION / MARKET CAP:
$700 MM in 2018
VALUATION COMMENT
According to third party data sources, the company's valuation is at $700 Mn. (Jul. 2018)
REVENUE:
$10M+ in 2018
REVENUE COMMENT:
Viewable by subscribers only
TRANSACTIONS VALUE:
$4 Billions in 2018
TRANSACTIONS COMMENT:
The platform has processed the value of the transaction of $4 billion in 2018. (Feb. 2019)
ACTIVE USERS COMMENT:
The company has 900 higher education customers, including seven of the eight Ivy League colleges.

MOMENTUM

FUNDED:
YES
TOTAL FUNDING:
$143.2 Millions
DATE OF LAST FUNDING:
Jul 2018
TOTAL FUNDING COMMENT:
The company will use the funds to accelerate its growth in North America, Europe, and Asia-Pacific while also establishing a presence in emerging markets such as Latin America, Africa, and the Middle East. (Jul. 2018)
SEED & PRIOR FUNDING:
$1.1 Millions
SEED CLOSED ON:
Oct 2010
FUNDING SERIES:
SERIES A
$7.5 Millions Closed:
SERIES B
$12.6 Millions Closed: Dec 2013
SERIES C
$22 Millions Closed: Jan 2015
SERIES D
$100 Million Closed: Jul 2018
LISTED:
NO

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