LeRemitt provides a cross-border financial platform that enables micro, small, and medium enterprises (MSMEs) to conduct international transactions with zero forex margins and no SWIFT charges through virtual currency accounts. The platform simplifies the complexities of global trade by offering efficient inward remittances and post-shipment financing, allowing businesses to receive payments quickly and without collateral.
Funding
$1.3M 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
Micro, small, and medium enterprises (MSMEs) face challenges in international transactions due to high forex margins, SWIFT charges, and the complexities of managing multiple currency accounts. Traditional collateralized loans also create barriers to accessing post-shipment financing, hindering business expansion.
Solution
LeRemitt provides a cross-border payment platform that enables MSMEs to conduct international transactions with zero forex margins and no SWIFT or correspondent banking charges. The platform offers virtual currency accounts in major currencies like USD, EUR, GBP, and CAD, simplifying inward remittances. LeRemitt also provides post-shipment financing solutions, allowing businesses to access up to 90% of their invoice value within 48 hours without requiring collateral. By streamlining cross-border payments and offering accessible financing, LeRemitt aims to empower MSMEs to participate in global trade more efficiently.
Target Audience
The primary target audience is micro, small, and medium-sized enterprises (MSMEs) engaged in international trade, including both goods and services exporters.
Features
- Virtual currency accounts in USD, EUR, GBP, and CAD for simplified international transactions.
- Zero forex margins and no SWIFT or correspondent banking charges on inward remittances.
- Post-shipment financing with up to 90% invoice value disbursed within 48 hours, without collateral requirements.
- Digital, RBI-compliant, and AI-driven secure platform.
- Online transaction tracker for real-time monitoring of payment status.
- Customer success team assistance with documentation to ensure regulatory compliance.