Esca provides an autonomous currency management system that enables businesses in emerging markets to automatically convert local currency revenues into foreign currencies, mitigating the risks of currency volatility. By offering high-yield savings accounts and facilitating cross-border payments without the need for local entities, Esca helps businesses retain revenue and streamline international transactions.
Funding
$258.5K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Businesses in emerging markets face significant challenges due to local currency volatility, hindering their ability to retain revenue and engage in seamless cross-border transactions. Traditional methods of currency conversion and international payments often involve complex procedures, high fees, and the necessity of establishing local entities, adding to operational overhead.
Solution
Esca provides an autonomous currency management system designed to automatically convert local currency revenues into stable foreign currencies, mitigating the risks associated with volatile markets. The platform offers businesses high-yield savings accounts in both local and foreign currencies, enabling them to earn interest while protecting their assets from devaluation. Esca facilitates cross-border payments to over 112 countries through named corporate accounts, eliminating the need for local entities and streamlining international transactions. By automating currency hedging and providing access to global banking services, Esca empowers businesses to retain revenue, increase profit margins, and operate more efficiently in emerging markets.
Target Audience
Esca primarily targets businesses operating in emerging markets that seek to mitigate currency volatility, retain revenue, and streamline cross-border payment processes.
Features
- Automatic conversion of local currency revenues into G3 currencies based on user-defined preferences
- High-yield savings accounts offering up to 20% APY on local currencies and up to 7% APY on foreign currencies
- Cross-border payment capabilities to over 112 countries via named corporate accounts
- Access to competitive exchange rates, up to 3% below market rates, with limit and forward order options
- Multi-currency accounts that eliminate the need for local entities in each jurisdiction
- Integration with Fixed Deposits and Pass Notes for principal-protected local currency investments
- Decentralized finance (DeFi) techniques, such as staking and market making, to generate yield on foreign currencies