|International Money Transfer|
Numerous companies are working in the field of money transfer and currency exchange. Some of them are really doing well in this regard. From time to time, they come up with some good announcements and these benefit those who require money transfer service.
However, the most recent announcement came from the Currency Cloud, the wide and well-known platform for international exchange payment automation. In mid of March, it claimed to have secured a whooping amount of $4m in series A-Funding. The amount was procured from Anthemis, the follow-on participator.
The funding will be utilized to give a boost to the commercial activities and facilitate commercial development. Over 100 corporate units are already using the company’s SaaS offers and more than 20 platform partners have signed as to the use of company’s API.
The overall picture will be of great help for the International Money Transfer companies, transaction-based web business units, financial and consumer services etc. The entire process will be quite handy for automated currency receiving as well as currency conversion. It will also lessen and remove currency risk of transaction, overall cost and integrated complexities as to payment and conversion.
The newly introduced SaaS (Software as a Service) will successfully reduce the cost volume and remove the frictions in payment infrastructure so as to ensure better and smoother international multi-currency exchange.
In spite of the fact that currency buying and selling are not that much tough, it is quite tedious and troublesome for some companies and individuals to do money transaction. The traditional foreign exchange market has always been fragmented. Furthermore, how the companies operate in the marketplace is not clear and exchange is also expensive. Now Currency Cloud is providing a universal platform for international money transaction that will be transparent in operation and inexpensive in price.