SwapMoney provides a platform for online cross-border payments and foreign exchange services, enabling users to send money in 20 currencies with zero fees and real-time exchange rates. The service addresses the need for fast, secure, and cost-effective remittances for diasporans and small to medium-sized enterprises (SMEs) across 180+ countries.
Funding
Funding not disclosed
Founders
Product
Problem
Traditional cross-border payment solutions often involve high fees, unfavorable exchange rates, and slow transfer times, creating barriers for individuals and small businesses sending money internationally. These inefficiencies can significantly reduce the amount received by beneficiaries and increase the overall cost of remittances.
Solution
SwapMoney provides a platform for online cross-border payments and foreign exchange, enabling users to send money in multiple currencies with zero fees and real-time exchange rates. The service aims to provide fast, secure, and cost-effective remittances for individuals and small to medium-sized enterprises (SMEs) across a wide range of countries. By removing intermediaries and leveraging efficient technology, SwapMoney reduces transaction costs and ensures competitive exchange rates. Funds are transferred instantly to the recipient's bank account, eliminating delays and constant checks.
Target Audience
SwapMoney primarily targets diasporans and small to medium-sized enterprises (SMEs) who regularly send money internationally.
Features
- Zero-fee money transfers to over 100 countries in 30+ currencies
- Real-time exchange rates to ensure transparency and best possible value
- Instant transfers directly to recipient bank accounts
- Mobile app available for both iOS and Android platforms
- Option to split funds between two beneficiaries simultaneously
- Referral program that rewards both the referrer and the referred user
- Licensed and regulated by the UK Financial Conduct Authority (FCA)