June 8, 2015
Talking about the establishment of Money Mover Hamish Anderson CEO, Money Mover, said, SMEs are the backbone of the UK economy. Many do business internationally, making and receiving payments in a variety of currencies. It’s no secret that the majority of SMEs get treated like retail clients by their banks, which means that making foreign currency payments can cost them in excess of 3% of the payment amount, in addition to fees. The team behind Money Mover didn’t think that this was fair. There was a gap in the market to provide a low-cost, simple and transparent global payment service just for SMEs. Why shouldn’t SMEs benefit from the transparency and low rates available to the largest corporations?
And so Money Mover was born.
The Money Mover web application has been developed with the needs of the SME in mind. Fees are all-inclusive and completely transparent. Market rates are clearly displayed. Users know exactly where their money is and when their payments will be received.
The team works closely with new users to review their international payments, identify the costs due to fees and exchange rates, and demonstrate the potential savings. Many users have already saved thousands of pounds. Money Mover is Cambridge-based, in the heart of the Silicon Fen and on the doorstep of many of the UK’s most dynamic and innovative companies.
The service was launched in October, 2014 and its fast-growing SME client base has already made more than $10 million (£6.6 million) of payments.
$ 434.3 thousand in two rounds from three investors
Andrew Comber: Founder and CTO
Hamish Anderson: Founder and CEO
Simon Reeves: Senior Investment Banker
Most Recent Funding:
$ 251.3 Thousand Angel on June 1, 2014
About Money Mover:
Money Mover is the new, secure and low-cost way for businesses and individuals to make international payments.
Money Mover is UK-based and fully compliant with all regulations. Client funds are held with major banks and segregated at all times.
Get quotes and make payments quickly. Review payment history and set up new recipients directly from customer dashboard.