Case Studies

FreemarketFX is one of the UK’s leading FCA regulated commercial foreign exchange platforms

FreemarketFX

Freemarket is an FCA regulated provider of one of the UK’s leading commercial foreign exchange platforms, that securely automates the full lifecycle of currency and cross border payments. The Business is backed by BHL Holdings (Comparethemarket.com) and the Chairman of Freemarket and founding partner of Barclays Capital, Rich Ricci.

The Company offers a highly competitive B2B foreign exchange market transacting significant volume by creating a liquid internal market through their platform, which in turn matches buyers and sellers of currency with no risk to Freemarket. If there is limited liquidity, the Company has partnerships in place with major Banks that provide additional liquidity where required.

Freemarket principally targets the UK SME market, where international payments amount to £700billion per annum with around 90% of this trade still occurring through the traditional banking network, which can sometimes cost firms up to 4% per transaction. Freemarkets automated solution is offered at a very significant discount to the traditional banks.

The Directors believe that Freemarket offer the most sophisticated up to the minute API technology that streamlines everything from client onboarding and collection of funds to the execution of payments in over 100 countries, through multi-currency accounts at highly competitive rates.

Freemarket is one of a number of innovative technology businesses in the West Hill portfolio that have seen increased demand as a result of Covid-19 and the accelerated adoption of digital technologies.

 

  • Capital Raised £2.5m EIS equity
  • Investors Corporate Investors, Directors, HNWI, Family offices, Principals of West Hill
  • Outcome Freemarket has experienced very substantial growth and has great potential following a breakthrough 2020